Italian Minister Suggests Suspending EU Carbon Market as Emergency Response to Conflict

EU leaders are expected to debate the future of the carbon market at the March summit.European Union flags fly outside the EU Commission headquarters in Brussels on Sept. 19, 2019. Yves Herman/Reuters3/9/2026|Updated: 3/9/2026Italian Industry Minister Adolfo Urso said suspension of the European Union’s carbon emissions trading system (ETS) should be considered as an “emergency response” to the conflict in the Middle East if it cannot be reformed quickly.Launched in 2005, the ETS was the world’s first carbon market and remains among the largest globally. It requires polluters to pay for their emissions while aiming to reduce overall greenhouse gas output across Europe.