The EU might weaken its landmark climate law — the 'most impactful' in the world

The EU might weaken its landmark climate law — the 'most impactful' in the world

The European Union’s cap-and-trade system has long been considered the gold standard for market-based emissions-reduction policies, and it’s influenced similar efforts from California to South Korea. Since 2005, it’s helped reduce the EU’s industrial carbon emissions by about 50 percent, and a recent working paper called it the “most impactful climate policy in the world.” But a set of changes proposed earlier this month by the European Commissi…