EU proposes slowing down cuts to carbon emissions for businesses - BBC News

Under the proposals, the EU plans to relax its emissions trading system to give companies more time to reduce their carbon output.

Image source, Getty ImagesImage caption, The ETS, introduced in 2005, is the EU's main tool for curbing greenhouse gases.

The European Union has unveiled proposals that would slow cuts to businesses' greenhouse gas emissions limits, as part of a major climate policy overhaul.

The reforms would relax the rules of the bloc's emissions trading system (ETS) to give businesses more time to reduce their carbon output than previously planned.

The changes would mean some industries could obtain emission allowances until 2038 instead of 2034, if they commit to investing in decarbonisation efforts.

The proposals still need to be approved by EU countries and lawmakers - a process that could take a year.