Carbon Prices Jump After EU Assembly Backs Tougher Climate Goals
- EU Parliament seeks a 60% cut in emissions by 2030 from 1990
- Changes to Green Deal law require approval by EU governments
The Green Deal will require tougher emissions-reduction across the European economy.
Photographer: Wolfgang von Brauchitsch/Bloomberg
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The European Parliament endorsed a plan to toughen the bloc’s 2030 emissions-reduction target to 60% from 1990 levels, putting pressure on European Union governments in upcoming talks about the final shape of a landmark climate law.
The EU assembly published on Wednesday the results of more than 170 amendments to the law that will implement the Green Deal, a sweeping strategy for the region to eliminate greenhouse gases by 2050. Carbon prices jumped as much as 4.1% immediately after the announcement.