EU carbon market cut emissions by 41% from 2021 to 2023, Grantham Research Institute study finds

A study from the Grantham Research Institute at the London School of Economics found that the EU Emissions Trading System (ETS) cut emissions by 41 percent from 2021 to 2023 compared to a scenario without the carbon market. The European Commission is now considering easing the ETS rules, while some groups push to extend carbon pricing to international aviation flights departing from EU airports. The study's findings show the ETS has been effective at driving down emissions in covered sectors. However, the article notes the Commission is preparing to ease the system, which could slow future reductions. Extending carbon pricing to all departing flights could raise around 9 billion euros annually, according to the International Council on Clean Transportation.