On 17 October, Reuters reported that Sweden has proposed measures to strengthen carbon prices”. A bill to reform the EU Emissions Trading System (ETS) is now being debated by European lawmakers and member states. Sweden’s Minister for International Development Cooperation and Climate, Isabella Lövin (MP), has the aim of putting a ceiling on emissions and has presented new proposals to a collection of environment ministers calling themselves the Green Growth Group. Her view is that the “ETS system is not working now and we don’t see that the Commission’s proposal is sufficient in making sure that the price signal is strengthened”. In Sweden’s drive for a more ambitious ETS, the country is also pioneering a program to purchase and then scrap 30 million euros of carbon credits a year, equating to about 10% of its total emissions from 2018 to 2040, Reuters writes.
Regular readers of Mundus International reports will be familiar with our view that the world should expect a more assertive Swedish climate policy. For more on Swedish climate developments see our sister blog, Renovamus.