Swedish opposition leader Andersson wins crucial backing to form government

The EU's Irish presidency has proposed changes to the bloc's carbon market that would slow the phase-out of free emissions permits for industry and exempt

smaller installations from new decarbonisation requirements, a compromise text showed on Sunday.



The text, which EU countries will debate on Wednesday, is part of talks on the European Commission's review of the EU Emissions Trading System. Brussels is redesigning the scheme to meet the EU's legally binding goal of cutting net greenhouse gas emissions by 90% by 2040 from 1990 levels.



The ETS, which covers power generation, industry, aviation and shipping, puts a price on carbon by requiring companies to surrender a permit for every metric ton of CO2 they emit. The scheme was designed to deliver the EU's 2030 climate target and, if left unchanged, would reduce the supply of permits to near zero by 2039.