BRUSSELS — The European Commission plans to propose a reform of the carbon market reserve before revising the Emissions Trading System (ETS) as a whole this year, the bloc’s climate chief said.
The EU executive is expected to present a revision of the ETS, which obliges factories, power plants, airlines and shipping companies to pay for their planet-warming pollution, around July.
But Climate Commissioner Wopke Hoekstra said Tuesday that a reform of the Market Stability Reserve, which controls the supply of ETS permits, will come beforehand.
“We do plan to do this already before the [ETS] review, also because it is intellectually easier and has not as broad as the scope as the whole review. So in all likelihood, earlier,” he said, while cautioning that a “degree of uncertainty” remains.
