Adjustment of the Greenhouse Gas Emissions Trading Act Welcomed
- Date: January 15, 2025
- Time: 12:45 PM
The adjustment of the Greenhouse Gas Emissions Trading Act (TEHG) has been welcomed by various stakeholders, including environmental organizations, industry representatives, and the government. The amended law aims to strengthen the emissions trading system and accelerate the transition to a climate-neutral economy.
Key Changes in the TEHG
The adjusted TEHG introduces several key changes, including:
- Expansion of the scope: The emissions trading system will be expanded to include emissions from additional sectors, such as transportation and buildings.
- Tightening of emission caps: The emission caps will be gradually tightened, leading to a more significant reduction in greenhouse gas emissions over time.
- Introduction of a carbon border adjustment mechanism: A mechanism will be established to prevent carbon leakage by imposing a tax on imports from countries with less stringent emissions policies.
- Strengthening of market oversight: The regulatory framework for the emissions trading system will be strengthened to ensure its integrity and prevent market manipulation.
Reactions from Stakeholders
Environmental organizations have welcomed the adjustment of the TEHG, emphasizing its potential to accelerate the reduction of greenhouse gas emissions. Industry representatives have expressed cautious support for the changes, recognizing the need for a transition to a climate-neutral economy but stressing the importance of maintaining competitiveness.
The government has hailed the amended law as a “milestone” in the fight against climate change. It believes that the TEHG will provide incentives for businesses to invest in low-carbon technologies and drive innovation in the field.
Implementation and Outlook
The adjusted TEHG is expected to come into effect on January 1, 2026. The government will work closely with relevant stakeholders to ensure a smooth implementation process.
The amended law is seen as a significant step towards achieving the EU’s climate neutrality goal by 2050. It is also expected to play a crucial role in promoting economic growth and creating new jobs in the green economy.
Anpassung des Treibhausgas-Emissionshandelsgesetzes begrüßt
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