| Author (Person) | Mahony, Honor |
|---|---|
| Series Title | EUObserver |
| Series Details | 16.04.13 |
| Publication Date | 16/04/2013 |
| Content Type | News |
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The European Parliament on 16 April 2013 voted against a proposal to revive one of its flagship climate policies, a move green groups called a "historic failure." The vote concerned a tweak to the Emissions Trading Scheme (ETS), suffering from a plunge in carbon prices due to the excess number of carbon permits in the markets. In response the European Commission stated: 'The Commission of course regrets that the European Parliament has not approved the back-loading proposal. However, it is worth noting than when it was suggested in the second vote that the Parliament finalised its rejection right away, this was not supported. The proposal will now go back to the Parliament's Environment Committee for further consideration. Europe needs a robust carbon market to meet our climate targets and spur innovation. The Commission remains convinced that back-loading would help restore confidence in the EU ETS in the short term until we decide on more structural measures. We will now reflect on the next steps to ensure that Europe has strong EU ETS. In doing so the Council's position on the proposal will be an important factor and I take note of the Irish Presidency's reaction today to urgently pursue and conclude discussions among Member States. The market, the investors and our international partners are all awaiting'. On the 23 April 2013, EurActiv reported that the EU plan to “backload” or withhold 900 million carbon allowances to see-saw their falling price could return for a ‘second-round’ vote in June. |
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| Source Link | Link to Main Source http://euobserver.com/economic/119820 |
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| Subject Categories | Environment |
| Countries / Regions | Europe |
