While Covid-19 has dramatically rattled the oil market, similar shake-ups across the fossil-fuel markets have been overlooked. The EU’s carbon pricing scheme has seen the cost of emissions fall significantly through the continent’s lockdown, exposing some serious holes in the scheme’s ability to drive down emissions across the bloc. As momentum gathers behind a ‘green’ economic recovery following the pandemic, market conditions offer a possibility to reform the scheme. The way that governments handle these legislative tweaks could be the key driver behind whether the EU satisfies its net-zero ambitions. With reduced power demand and activity across the aviation sector, the emissions dealt with by the EU’s Emissions Trading System (ETS) are set to fall by 14% through 2020. This…