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EU, Iceland, Norway pledge to extend climate action cooperation beyond ETS

( October 25, 2019, 10:50 GMT | Official Statement) -- MLex Summary: The EU, Norway and Iceland are set to extend their cooperation on climate action to sectors not covered by the bloc’s Emissions Trading System, the European Commission said today. The two non-EU countries have participated in the EU’s cap-and-trade system since 2008. In the upcoming years, Iceland and Norway will start applying the bloc’s effort-sharing regulation which entails binding annual greenhouse-gas emission targets for the period 2021-2030 for the agriculture, transport, waste and building sectors. In addition, they will apply EU rules on land-use change and forestry on emissions reduction. Iceland still needs to the approval of the national parliament to start applying the rules.Statement follows....

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