17:10 - 17.07.2026

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July 17, Fineko/abc.az. The European Commission is planning to increase financing for industrial decarbonization and slow down the reduction of quotas in the Emissions Trading System (ETS).

According to European Commissioner for Climate Action Wopke Hoekstra, a significant part of system's revenues will be directed for modernization of enterprises.

It is proposed to oblige the EU countries to allocate at least half of the ETS revenues (approx. €24 billion per year) to support industry. It is also planned to extend the issuance of quotas until the mid-2040s instead of 2039 and slow down their reduction.

The European Commission emphasizes that the measures will not hinder the achievement of climate goals. The proposals still need to be approved by the EU countries and the European Parliament.