The buzzword in the Brussels energy and climate bubble is 450, a number that is dividing European Union lawmakers and making coal-dependent Poland fume over upcoming reforms to the world’s biggest carbon market.
Negotiators representing the 28-nation bloc and its member states will meet on Nov. 8 to overhaul the Emissions Trading System, the EU’s flagship climate-policy tool to reduce greenhouse gases. Discussions have stalled over a new modernization fund, with some lawmakers pushing to restrict financing just to utilities that emit less than 450 grams of carbon dioxide per kilowatt hour, a move that would make aid unavailable to coal-fired power plants.
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