EU Carbon Market Reform: The European Commission has unveiled a major overhaul of the EU Emissions Trading System, proposing a slower tightening of emissions limits from 2031 and extending free allowance support longer than planned, tied to companies’ climate investment plans; the move is pitched as more “business-friendly,” but critics warn it could weaken the system and endanger EU climate goals, alongside a new 2040 target for electricity to reach 46% of energy use (up from 23%). Liechtenstein Link via ETS Coverage: The ETS applies across EU states and also covers Iceland, Liechtenstein and Norway, and is linked with Switzerland’s ETS—so any shift in rules and timelines matters for Liechtenstein’s cross-border carbon pricing environment. Swiss Banking Oversight Debate: Switzerland’s parliament is already pushing back on plans to strengthen FINMA’s powers after Credit Suisse’s collapse, including the ability to fine and publicly name banks that break rules. US Diplomatic Posting (Liechtenstein Angle): US diplomat Yuriy R. Fedkiw took over as Consul General in Mumbai, previously serving in Bern overseeing relations with Switzerland and the Principality of Liechtenstein. Trade Cooperation Watch (Liechtenstein in the room): New Zealand’s FIT partnership meeting highlighted tariff and non-tariff barrier work, with Liechtenstein among the 16 partner countries.