European Commissioner for Climate Action Connie Hedegaard mentioned: “The Commission after all regrets that the European Parliament has now not authorized the back-loading proposal. However, it’s price noting that, when it used to be steered in a 2nd vote that the Parliament finalise its rejection instantly, this used to be now not supported. The proposal will now return to the Parliament’s Environment Committee for additional attention.
Europe wishes a powerful carbon marketplace to meet our local weather objectives and spur innovation. The Commission stays satisfied that back-loading would assist repair self assurance within the EU ETS within the momentary till we make a decision on extra long-term structural measures. We will now mirror at the subsequent steps to be sure that Europe has a robust EU ETS.
In doing so, the Council’s place at the proposal can be a very powerful issue and I consider of the Irish Presidency’s response lately to urgently pursue and conclude discussions amongst Member States. The marketplace, the buyers and our global companions are all ready.”
The European Commission had proposed to put off (back-load) the auctioning of 900 million EU ETS allowances from the years 2013-2015 to 2019-2020. This measure used to be designed to rebalance provide and insist and to scale back worth volatility with none vital affects on competitiveness.