Balanced News: EU reaches deal on emissions trading, social climate fund

BERLIN — European Union governments and lawmakers reached a deal Sunday on key elements of the 27-nation bloc’s green deal, reforming the EU’s trading system for greenhouse gas emissions and creating a new hardship fund for those hardest-hit by measures to curb climate change. The EU’s executive Commission said the measure would require European industries to reduce their emissions by 62% by 2030 from 2005 levels, compared to a target of 43% under the previous rules. Governments and the European Parliament also agreed to extend the bloc’s emissions trading system to cover road transport and the heating of buildings from 2027.