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Increasing the ambition of the EU Emissions Trading System
COMMISSION STAFF WORKING DOCUMENT EXECUTIVE SUMMARY OF THE IMPACT ASSESSMENT REPORT Accompanying the document DIRECTIVE OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL amending Directive 2003/87/EC establishing a system for greenhouse gas emission allowance trading within the Union, Decision (EU) 2015/1814 concerning the establishment and operation of a market stability reserve for the Union greenhouse gas emission trading scheme and Regulation (EU) 2015/757
Initiative summary:
To prepare transition to economy-wide climate neutrality by 2050, the Commission proposed to scale up greenhouse gas emission reductions for 2030 to at least 55% compared with 1990 levels. To deliver on this ambition, all relevant policies will be reviewed. This includes the EU Emissions Trading System, including an extension to new sectors in next year's legal proposal. It will also cover the review of the Market Stability Reserve foreseen within 3 years of it starting.