Effort Sharing Regulation: France presents compromise

The Fit for 55 package is making progress. The first dossier of the package cleared the hurdle of the parliamentary vote yesterday. The report on the revision of the Market Stability Reserve (MSR) was adopted by 490 votes in favor, 129 against, and 7 abstentions in the plenary in Strasbourg. The MSR reform aims to better protect the European Emissions Trading System (ETS) from price shocks by transferring a higher number of surplus allowances (24 percent) to the reserve. The adoption of the parliamentary report marks the start of negotiations with the member states.