×

European Union strikes deal on carbon market reform

BRUSSELS, Nov 9 (Reuters) - European Union negotiators agreed to a compromise on carbon market reforms on Thursday, with the bloc keen for a deal this week to show leadership at United Nations (UN) climate talks in Bonn, a spokeswoman for the EU presidency said in an e-mail to Reuters.

The deal reached was reached early on Thursday after months of dogged talks among EU nations, the European Parliament and the EU executive to finalize reforms to the EU Emissions Trading System (ETS) for enactment after 2020.

"In the early hours of today, the Council and the European Parliament reached a provisional deal on the EU Emissions Trading System," said Annikky Lamp, a spokeswoman for Estonia, which holds the bloc's rotating presidency.

The results of the compromise between the EU lawmakers still needs to be formally endorsed by member states and Parliament. (Reporting by Alissa de Carbonnel in Brussels; Editing by Christian Schmollinger)