EU proposes slowing down plans to cut carbon emissions for businesses

The European Union proposed relaxing its emissions trading system (ETS) to allow industries more time to reduce carbon emissions, extending permit allowances until 2038 and slowing the cap reduction rate. These changes aim to align with EU climate goals to cut emissions by 90% by 2040 but have faced criticism from environmental groups and some member states. The proposals still require approval from EU countries and lawmakers, a process that could take a year.

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