After fractious debate, EU Parliament votes to back "biggest ever" carbon market overhaul

European Union flags flutter outside the EU Commission headquarters in Brussels, Belgium June 17, 2022. REUTERS/Yves Herman

BRUSSELS (Reuters) -The European Parliament backed reforms to the EU carbon market on Wednesday, allaying fears of a delay to Europe's climate change policies after lawmakers had rejected the proposals in a first vote this month.

The proposals would cut emissions faster under the European Union's carbon market, the centrepiece of a package of laws to reduce the EU's net greenhouse gas output by 55% by 2030, from 1990 levels.