EU Carbon Market Reforms Bumped to 2019

Member states in the Council of the EU reached a tentative agreement on April 29 to institute carbon market reforms on January 1, 2019. The agreement came after the Czech Republic defected from the Polish-led blocking minority that would have delayed the reforms until 2021. Due to its heavy reliance on the fossil fuel for electricity, industrial use, and domestic heating, Poland has strongly opposed reforming the current Emissions Trading System, which allows coal to be burnt very cheaply due to a surplus of carbon permits. The new reforms would establish a Market Stability Reserve, withholding surplus permits.

Advertisements

About Jared Angle

I am an international relations professional based in the Washington, DC metropolitan region, specializing in European politics, international economics, and political risk analysis. I hold an MA in International Relations from the School of International Service at American University in Washington, DC, and currently work in the field of international trade policy.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

w

Connecting to %s

%d bloggers like this: