BRUSSELS Feb 28 A majority of EU environment
ministers on Tuesday reached a compromise on reforms to the
carbon market post 2020, moving closer to adopting the bloc's
first major law to curb greenhouse gases since the Paris accord
to fight global warming.
Nineteen member states, representing 71.44 percent of the EU
population, backed a compromise text in the tough talks to
bridge divisions over how to balance climate ambitions with
protection for energy-intensive industry in reforms of the
Emission Trading System (ETS).
The cap-and-trade permit system is the EU's flagship policy
to meet its goal of a 43-percent cut in greenhouse gases from
11,000 industries and power plants compared with 2005. But it
has suffered from excess supply since the financial crisis,
which depressed prices.
A minimum of 16 member states is required to back the
compromise deal, representing at least 65 percent of the total
EU population. Nine member states voted against the deal on
(Reporting by Alissa de Carbonnel)