Parliament has approved a deal to link Switzerland’s greenhouse gas emissions’ trading system to that of the European Union. Polluting companies will fill a wider choice of carbon credits to offset their emissions. On Thursday,the Senate followed the House of Representatives in voting to ratify an agreement that was approved by the government in 2017. Negotiations between Swiss and EU officials to align their systems began in 2011. By joining forces, the most polluting category of Swiss companies will be able to access a larger market and benefit from the same conditions as their European counterparts. In Switzerland, or 54 companies in sectors like cement,chemicals, pharmaceuticals, or refineries,paper, heating or steel are linked to the Swiss emissions trading system. In Europe, and there are around 11000 firms that offset their emissions under the EU scheme. In Switzerland,companies fill the right to emit a certain amount of carbon dioxide (CO2) into the atmosphere for free. Those ...
Source: swissinfo.ch