The EU Emissions Trading Scheme (EU ETS) is the world’s largest carbon market, covering more than 11 000 industrial and power plants in the EU-28, as well as in Iceland, Liechtenstein and Norway. The EU ETS covers about 40% of the EU’s greenhouse gas emissions.
On 24th May, the Members of the European Parliament Industry, Research and Energy (ITRE) Committee restated the Parliament’s long-standing call for boosting ambition of the EU 2030 energy savings target to 40%, voting for an own initiative report on the implementation of the Energy Efficiency Directive (EED).
All countries of Southeast Europe are parties to the United Nations Framework Convention on Climate Change (UNFCCC) and have signed up to the Paris Agreement. Becuase they all seek to join the EU well before 2030, their climate pledges should be in line with the EU’s target - currently set to reduce emissions by at least 40% by 2030, compared to 1990 levels.