Green groups criticize EU emissions trading deal

Markets Associated Press

Environmental groups say a deal between the European Parliament and EU member states to reform the bloc's emissions trading system undermines international efforts to curb climate change.

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The WWF says that while the tentative agreement announced Thursday will reduce the oversupply of emissions allowances that had weighed on the market, heavily polluting sectors will continue to get emissions certificates worth billions of euros for free until 2030.

The group noted that the move comes as EU negotiators are taking part in an international meeting in Germany aimed at implementing the 2015 Paris climate accord.

The European Commission said the emissions trading deal for the period after 2020 would put the bloc on track to achieving "a significant part of its commitment" under the Paris Agreement.