BRUSSELS, 6 February - In a final plenary vote on the post-2020 reform of the EU Emissions Trading System (ETS), the European Parliament today approved the compromise package that was agreed by co-legislators in November 2017.

Lawmakers adopted the market reforms by a strong majority of 535 votes in favour.

The file now goes to Member States for approval, after which it will be published in the Official Journal, the final step before it becomes law.

“We welcome the result of today’s vote, and particularly the strong majority that supported the EU’s carbon market overhaul” said IETA’s European policy director Julia Michalak.

“We congratulate rapporteur Julie Girling, and her predecessor Ian Duncan, for their hard work in bringing these reforms to a satisfactory conclusion.”

”This new law will mark the beginning of a more ambitious era for the ETS,” said Dirk Forrister, IETA President and CEO. “As the international community launches the 'Talanoa Dialogues' on strengthening climate action under the Paris Agreement, Europe is providing valuable leadership by enshrining in law a bolder role for the carbon market.”