19 May 2024
EU parliament committee proposes stronger reform of CO2 market
Publication date: 19 December 2016
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A majority of members of the European Parliament (MEP) environment committee has voted to ramp up reforms of the EU emissions trading system (ETS) to further incentivise a move away from coal-fired power generation.
Committee members proposed to cut the number of CO2 emissions credits entering the ETS market by 2.4% annually, compared to the European Commission’s existing 2.2% reduction target, and extend the period that certificates withdrawn from the market must remain out of circulation.