The EU and Switzerland have signed an agreement to link their emissions trading systems, allowing participants in one scheme to use allowances from the other for compliance.
The agreement, which was sealed after almost seven years of negotiations, is expected to enter into force in 2019. It is the first deal of its kind for the EU and between two parties to the 2015 Paris Agreement on climate change.
“Linking compatible emissions trading systems with each other is a long-term goal for the EU, as it expands opportunities for cutting emissions and thereby reduces the cost of fighting climate change,” the European Commission said in a statement.
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