Zombie carbon markets to be shocked back to life

A patched-up plan to shock Europe’s zombie carbon markets back to life passed a plenary vote at the European Parliament on the 3 July 2013, but this would only "buy time" for more fundamental reform, says the chairman of the Parliament’s environment committee.

Prices jumped up after the vote but remained low as national parliaments still have to ratify the proposal.

• Primary Source

European Parliament, 03.07.13: Parliament backs planned temporary boost to CO2 permit price http://www.europarl.europa.eu/news/en/pressroom/content/20130701IPR14761/

ESO: Background information: Parliament committee votes to prop up EU's ailing carbon market http://www.europeansources.info/record/parliament-committee-votes-to-prop-up-eus-ailing-carbon-market/

EurActiv, 04.07.13: Parliament takes first step to fix carbon market http://www.euractiv.com/general/european-parliament-step-get-car-news-529076

ESO: Background Information: Memo: Climate Action Commissioner Connie Hedegaard welcomes the European Parliament's positive vote on the carbon market backloading proposal http://www.europeansources.info/record/memo-climate-action-commissioner-connie-hedegaard-welcomes-the-european-parliaments-positive-vote-on-the-carbon-market-backloading-proposal/

BBC News, 04.07.13: MEPs' move to fix EU carbon market praised http://www.bbc.co.uk/news/world-europe-23178279

Deutsche Welle, 03.07.13: European Parliament votes to revamp emissions trading http://dw.de/p/191mv

---