| Author (Corporate) | Council of the European Union, European Parliament |
|---|---|
| Series Title | Official Journal of the European Union |
| Series Details | L 76, Pages 3-27 |
| Publication Date | 19/03/2018 |
| Content Type | Legislation |
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Summary: Directive (EU) 2018/410 - adopted by the European Union on 14 March 2018 - which amends Directive 2003/87/EC on setting up a scheme for greenhouse gas emission allowance trading (also known as Emissions Trading System, or EU ETS). This is a text with EEA relevance. Further information: In the context of the efforts undertaken by the European Union to cut greenhouse gas emissions by at least 80% by 2050, the European Council agreed in October 2014 the 2030 policy framework for climate and energy. A centrepiece of this framework is the binding target to reduce overall EU emissions by at least 40% domestically below 1990 levels by 2030. To achieve that target cost-effecitvely, the sectors covered by the EU ETS would have to sharply reduce their emissions. The European Council's vision outlines the main principles to achieve the reduction in the EU ETS. The Directive creates the necessary legal framework implementing those principles by reviewing the limits within the Emissions Trading System for the period 2021-2030. It introduces new rules for addressing carbon leakage, and provisions for funding innovation and modernisation in the energy sector (Modernisation Fund). The goals should be achieve in combination with the revised Market Stability Reserve (MSR). A public consultation in the revision of the EU ETS Directive for the post-2020 period was launched on 19 December 2014. The proposal was adopted by the European Commission on 15 July 2015 as part of an energy-related legislative package. The European Parliament adopted its negotiating position on 17 February 2017, followed by the Council of the European Union on 28 February. An informal agreement between the co-legislators was reached on 9 November. This was formally endorsed by the Parliament on 8 February 2018, followed by the Council on 27 February. The Act was signed on 14 March and entered into force on 8 April. National transposition would have to be concluded by 9 October 2019. |
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| Source Link | Link to Main Source http://data.europa.eu/eli/dir/2018/410/oj |
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| Subject Categories | Environment |
| Subject Tags | Atmospheric | Air Pollution |
| Keywords | Emissions Trading System | EU ETS Scheme, Greenhouse Gas | GHG Emissions |
| International Organisations | European Union [EU] |
