In a surprise move, the European Parliament and the Council of the European Union reached a provisional agreement on the revision of the aviation part of the EU Emissions Trading System (ETS) on Wednesday 7 December, after a negotiating session (‘trilogues’) that started the day before and ended at around 2.30am.
In particular, the agreement provides for a gradual reduction in the number of free emission allowances granted to the aviation sector (-25% in 2024 and -50% in 2025), with a...