EU Softens Carbon Market to Ease Pressure on Industry

BRUSSELS, July 17 (Reuters) – The European Commission proposed an overhaul of the EU’s Emissions Trading System on Friday, allowing industries to emit CO2 longer while offering more financial support to invest in clean technologies in Europe.

The ETS is the European Union’s biggest climate change policy. It forces power plants, airlines and shipping firms to buy permits when they emit CO2, and caps their overall emissions.

The EU executive has long been preparing to overhaul the ETS, extending it into future decades and aligning it with the EU’s 2040 climate goal to cut net