EU’s flagship ETS (Emission Trading System) reform approvement by the majority of member states came after almost two years of discussion on February 2017. Under the proposed plan, emissions cap will fall by 2.2% yearly since 2021. Around 800 million climate licenses are set to be cut for more than 11,000 energy-intensive industrial plants and power stations through the first year of EU ETS phase 4. Final compromise text will be approved after the talks with the EU 28 national governments.
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