Cabinet decides on implementing EU ETS reform
The federal government has today paved the way for implementing changes to the European Emissions Trading System (EU ETS). The modifications will take effect in 2021. Chancellor Angela Merkel’s cabinet has decided on a draft law – which will have to be voted on in parliament before being passed into law – on the 2018 EU directive on emissions trading that will see a reduction in the overall budget of emissions allowances and reinforcement of the market stability reserve (for details see here). Germany will also implement the new option of cancelling emission allowances in the event of additional power plant retirements.
Read the environment ministry press release in German here.