It is an equation with two unknowns – the degree of balance and the political will to succeed – that European environment ministers will need to solve when they meet in Brussels on Tuesday 28 February to try to reach general guidelines from the Environment Council on the planned reform of the European carbon market, the Emissions Trading System (ETS) for 2021-2030 (see EUROPE 11732).
They will need to strike a balance between three aspects – strengthening ETS to get the price of a...