Setback for emissions trading – power lines behind schedule
The system is considered to be the gold standard for climate protection – but the majority of EU countries oppose expansion. In this country, too, there is a central issue.
WWhile Germany is discussing new national climate targets after the Federal Constitutional Court ruling, everything in the EU is already revolving around the implementation of the more stringent climate target for 2030 that has just been adopted. In mid-July, the European Commission wants to present concrete proposals on how this should be done. In view of the large number of detailed rules with which the EU operates climate protection, this is understandable. There is emissions trading for industry, the electricity sector and parts of aviation, which covers 40 percent of emissions. There are national reduction targets for the remaining 60 percent, traffic, the building sector and agriculture. In addition, there are individual targets for increasing energy efficiency and expanding renewable energies or CO2 limit values for the automotive industry.
In short: there is not one EU climate policy, but many. That is why economists have long been campaigning for reducing the number of targets and for expanding emissions trading. For many, this is the most efficient means of reducing emissions. The approach is simple: the number of rights is capped. The market participants then decide who reduces emissions and how much. In recent months, emissions trading has shown that it can send clear price signals for this. On Tuesday, a ton of CO2 cost more than 50 euros for the first time.