Italy calls for suspension of EU carbon market

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illuminem summarises for you the essential news of the day. Read the full piece on Euronews or enjoy below:

🗞️ Driving the news: Italy’s Industry Minister Adolfo Urso has called for a suspension of the EU’s carbon market, the European Union Emissions Trading System (ETS)
• Urso argues the ETS acts as a “tax” on energy-intensive firms, hurting competitiveness against China and the U.S.
• He wants the mechanism paused until a broader reform proposal is presented this summer

🔭 The context: The ETS, launched in 2005, makes polluters pay for emissions across power, heavy industry, aviation and shipping
• It has cut covered emissions by 39% and generated over €260 billion in revenues
• Nordic industry groups have urged Brussels to preserve the ETS, calling it a key driver of clean-tech investment certainty

🌍 Why it matters for the planet: The ETS is Europe’s flagship climate tool, sending a price signal to phase out fossil fuels
• Suspending it could weaken decarbonisation incentives and delay industrial transition
• Stable carbon pricing is widely seen as essential for scaling clean energy, electrification and green industry

⏭️ What’s next: The European Commission will review the ETS framework this year, amid mounting pressure from some member states and industry

💬 One quote: “Suspending the ETS… would move Italy in the opposite direction… ultimately delaying the transition away from expensive fossil fuels.” — Chiara di Mambro, ECCO

📈 One stat: Since 2005, the ETS has reduced emissions by 39% in covered sectors

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