The European Commission has delivered a loose plan to bolster the Emissions Trading Scheme (ETS) and raise the carbon trading price to a level needed to encourage low-carbon investment and discourage pollution.
The EU ETS carbon price has faltered due to a fraud scandal and an over supply of allowances because of the recession. As a result, the Commission has decided on a series of steps including delaying the auction of new allowances and clarifying an article of EU law on auction time-tabling. The Commission’s draft proposal does not…
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