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Key EU lawmaker seeks changes to carbon trading extension

Peter Liese, the European Parliament's rapporteur on ETS, seeks to bring forward the start of the new program by a year to 2025 according to Bloomberg. The shipping community is awaiting the formal report by the rapporteur expected tomorrow, Friday.

German lawmaker Peter Liese, who is leading the reform through the European Parliament, is outlining temporary exemptions from a new market for heating and transport fuels, according to a draft report seen by Bloomberg News | Photo: Peter Liese

The lead lawmaker steering the overhaul of the European Union’s carbon market is set to propose some temporary opt-outs from a planned extension of the cap-and-trade program as soaring energy prices send shockwaves through the region’s economy.

German lawmaker Peter Liese, who is leading the reform through the European Parliament, is outlining temporary exemptions from a new market for heating and transport fuels, according to a draft report seen by Bloomberg News. He’s also planning an amendment to bring forward the start of the new program by a year to 2025.

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