MEP Cyrus Engerer's report on emissions, known as the Market Stability Reserve, will be the first of a set of legislations to be voted on as part of the EU's landmark Fit for 55 package.
The Fit for 55 package refers to the EU's goal of cutting net greenhouse gas emissions by at least 55% by 2030. The proposed set of legislations seek to update current legislation in line with the 2030 goal.
"Thanks to this law, which will be the first of the Fit for 55 package to be concluded, the European Parliament wants to send a strong message that we can accomplish the Green Deal," the Socialists and Democrats' MEP said.
With this law, Engerer said the European Union must be ambitious to "continue reducing emissions in the strongest of ways, while ensuring stability in the price of energy generation". Energy prices are currently among the highest they have ever been in Europe.
Energy prices across the bloc are now so high that they are becoming a systemic issue for major economies. Power prices are surging as freezing weather has forced European utilities to burn more gas, coal and even oil to keep the lights on. High prices this month are spilling into futures contracts for the following years, a sign that the crunch could last longer than many expected.
Engerer is not only drafting the law on the Market Stability Reserve extension but is also the Socialist's negotiator on the revision of the Waste Shipment Regulation.
"What applies to us within the European Union must apply to us outside of our territory," he said. "Dumping waste in third world countries is unacceptable. Apart from protecting human health across the world, we must realise that the global ecosystem must be safeguarded from all corners of the planet," he added.
This article is part of a content series called 'Ewropej'. This is a multi-newsroom initiative part-funded by the European Parliament to bring the work of the EP closer to the citizens of Malta and keep them informed about matters that affect their daily lives. This article reflects only the author's view. The European Parliament is not responsible for any use that may be made of the information it contains.
