Talks on international emissions trading

During the annual EU-US summit in Vienna on Wednesday both parties agreed to establish a high-level dialogue on climate change, clean energy and sustainable development.
The launch of this high-level dialogue on climate change between the EU and the USA will include discussions on the use of market-based mechanisms to achieve greenhouse gas emission cuts, i.e. international emissions trading
This is the first time the US agrees to enter a dialogue on such marked-based mechanisms after it stepped out from the Kyoto Protocol, seen as a first step in a change of direction towards EU positions on climate change.

The EU-US summit agreed that the dialogue will also be guided by "the ultimate objective of the UNFCC" and build on already existing initiatives.The dialogue will hold a first meeting this autumn in Helsinki.