Pollution permits: Vapors rise from a petrochemical plant in Le Havre, France. Under the EU emissions trading system, factories and power plants have to buy pollution permits to cover the greenhouse gases they emit. — Bloomberg
BRUSSELS: The world’s biggest carbon trading market faces a major overhaul under European Union climate change plans to cut greenhouse gas emissions faster this decade, a draft seen by Reuters shows.
Under the EU emissions trading system (ETS) factories and power plants have to buy pollution permits to cover the greenhouse gases they emit, while airlines must do so for flights within Europe.
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