ASSESSMENTS

The Takeaways From the EU's Latest Carbon-Cutting Measures

May 1, 2023 | 18:20 GMT

A production plant owned by the Luxembourgish multinational steel manufacturing corporation, ArcelorMittal, is seen in Desteldonk, Belgium, on April 24, 2023.

A production plant owned by the Luxembourgish steel manufacturing corporation, ArcelorMittal, is seen in Desteldonk, Belgium, on April 24, 2023.

(JAMES ARTHUR GEKIERE/BELGA MAG/AFP via Getty Images)

A package of new climate laws will enable the European Union to cut carbon emissions within the main sectors of its economy by increasing the cost of polluting in the bloc, while also reducing the impact of that cost increase on vulnerable consumers, small businesses and industrial sectors. On April 25, EU member states adopted on April 25 a series of key pieces of climate legislation, including a reform to the bloc's Emissions Trading System (ETS) that accelerates and increases the scope of emissions reductions by 2030. Before the end of the decade, the European Union now aims to cut emissions produced by ETS-covered sectors -- which include electricity and heat generation, energy-intensive industries (like steel, aluminum, metals, cement, glass, paper, and chemicals), aviation and, for the first time, shipping -- to 62% of 2005 levels, up from the previous 43% target. To hit that more ambitious target, EU countries...

Keep Reading

Register to read three free articles

Proceed to sign up

Register Now

Already have an account?

Sign In