Six EU climate ministers, including Germany’s, support backloading of ETS allowances

Climate and environment ministers from Germany and five other European Union states have reportedly urged EU lawmakers to approve proposals for backloading emissions trading allowances, in order to prop up carbon prices and sustain “a central instrument of EU-wide climate protection”.

“We the undersigned support the proposals for backloading a certain amount of allowances,” the climate and environment ministers of Germany, France, Italy, United Kingdom, Sweden and Denmark wrote in a letter, according to the Reuters news agency.

However, on the 16 April 2013, the European Parliament voted against the proposal to shore up the price of the carbon in the Emissions Trading System (ETS). MEPs in Strasbourg voted 334 against the reform, with 315 in favour, leading green campaigners to condemn the defeat as a "monumental failure" to mend the carbon trading market, which is Europe's flagship climate policy and the biggest in the world.

ESO: Background Information: Carbon market worth plunged by over a third in 2012: Bloomberg http://www.europeansources.info/record/carbon-market-worth-plunged-by-over-a-third-in-2012-bloomberg/

EurActiv, 12.04.13: EU 'carbon leakage' list is outdated, says report http://www.euractiv.com/specialreport-industrial-policy/report-eu-carbon-leakage-list-to-news-518994

EurActiv, 16.04.13: MEPs reject proposed reform of emissions trading scheme http://www.euractiv.com/climate-environment/meps-reject-proposed-reform-emis-news-519155

EurActiv, 16.04.13: Ex-Tory ministers: Maggie would have wanted carbon market reform http://www.euractiv.com/uk-europe/ex-tory-ministers-maggie-wanted-news-519122

ESO: Background Information: MEPs reject move to fix flagship climate policy http://www.europeansources.info/record/meps-reject-move-to-fix-flagship-climate-policy/

Deutsche Welle, 17.04.13: European Parliament keeps carbon prices low http://dw.de/p/18H5C

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