European Council approves EU-Swiss emissions trading connection

14/11/2017 11:32 CO2

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The European Council has given an approval for an accord aiming to link EU and Swiss emission trading systems (ETS). 

The document will be sent to the European Parliament for authorization to finalize the deal.

 

The ETS represents one of the main pivots for cost effectively cutting greenhouse gas emissions, especially from strongly polluting energy industries and power plants.


The arrangement must become reciprocally favorable for both parts, the EU and Switzerland, permitting them to reach their emissions reduction goals, primarily commitments taken within Paris Agreement.


Siim Kiisler, Minister for the Environment of the Republic of Estonia declared: “I want to thank Switzerland and all EU member states for their confidence that mutual co-operation will make our emissions trading systems stronger and more cost effective. Reaching our Paris climate goals is a shared objective – no country can fight climate change on its own. By enlarging the emissions trading market, we are creating a solid path towards a cleaner future.”


The European Commission has assigned less quotas for the import and production of hydrofluorocarbons (HFCs) in the attempt to cut emissions.
 

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