Italian Minister Suggests Suspending EU Carbon Market as ‘Emergency Response’ to Conflict

Italian Minister Suggests Suspending EU Carbon Market as ‘Emergency Response’ to Conflict

Italian Industry Minister Adolfo Urso said suspension of the European Union’s carbon emissions trading system (ETS) should be considered as an “emergency response” to the conflict in the Middle East if it cannot be reformed quickly. Launched in 2005, the ETS was the world’s first carbon market and remains among the largest globally. It requires polluters to pay for their emissions while aiming to reduce overall greenhouse gas output across Europ…

EU Carbon Market under Pressure: Business Lobby for Reform, Italy Calls for Suspension

Europe’s carbon market is facing new political pressure. Europe’s largest business lobby group has called for reforms. At the same time, Italy has asked for a temporary suspension of the system. These calls focus on the European Union Emissions Trading System (EU ETS).The EU ETS is the world’s largest carbon market. It covers around 40% of the EU’s total greenhouse gas emissions. It sets a cap on emissions from power plants, heavy industry, and …

Italian Minister Just Called for EU Carbon Trading Suspension To Curb Energy Prices - European Business & Finance Magazine

Italy's industry minister Adolfo Urso has issued one of the most direct challenges to the EU's flagship climate policy in its history, calling for the