The EU's emissions trading system is the world's largest carbon market and will soon get even bigger when reformed rules come into play. This week we get an insider take on the updated ETS from one of the negotiators that helped write the new rules
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Europe’s emissions trading system is considered to be the backbone of EU climate policies. After very nearly 20 years of service, the carbon market plays a substantial role in cutting emissions and driving demand for green technology by enforcing the polluter pays principle. Late last year, EU negotiators brokered an agreement on how to update the ETS, so that emissions are cut even further and more emitting sectors are finally introduced to the world of carbon pricing. The reform promises much but with more rules, comes more complexity.
To understand more about the mammoth ETS deal, Policy Dispatch caught up with one of the negotiators that helped get the agreement over the line. Emma Wiesner, a Swedish MEP, chats with Sam live from her Parliament office in Strasbourg about what the future holds for the ETS, what aspects of the agreement disappointed her and how pricing pollution is just the start.
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