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Alliance of Liberals and Democrats for Europe: Poslanci EP souhlasí s odložením aukcí povolenek na emise CO2
10. prosince 2013 | Alliance of Liberals and Democrats for Europe
Autor: Neil Corlett, tel: +32 228 420 77, +33 388 174 167, +32 478 782 284
Autor: Neil Corlett, tel: +32 228 420 77, +33 388 174 167, +32 478 782 284
The European Parliament today finally approved plans to delay the auctioning of some CO2 pollution permits by a few years in order to allow the market price of carbon to recover and thus encourage companies to invest in less-polluting technologies and green investments.
The European Parliament today finally approved plans to delay the auctioning of some CO2 pollution permits by a few years in order to allow the market price of carbon to recover and thus encourage companies to invest in less-polluting technologies and green investments.
The proposed reform known as "back-loading" aims to reverse the falling price of carbon that has resulted from a surplus of permits in the ETS market.
The Commission's proposal of “Auctioning timetable of greenhouse gas allowances" voted today empowers the Commission to adapt the timing of carbon-permit (EUA) sales to impose the market “intervention” in exceptional circumstances and suggests curbing oversupply. But under the agreement, this intervention will be a one-off measure to temporarily withdraw some 900 million allowances running from 2013 to 2020.
Following a near rejection when the report was first presented, a slim majority was found last July that added just one modification to the Commission proposal, namely, that the withdrawal should be subject to an impact assessment as regards any possible negative effects on those industrial sectors that are exposed to a significant risk of carbon leakage.
Initially, several Member States were unsupportive of the measure but the Council has now come round to the wording of the text adopted and voted by European Parliament.
ALDE MEP Chris Davies (UK, LibDem) after the vote said:
"What should have been nothing more than a minor regulatory adjustment had become a test of the EU's entire strategy on climate change.
"The emissions trading system has succeeded in reducing CO2 emissions from major industrial installations but it has failed to promote low carbon investments on the scale needed.
"Now we must decide whether Europe is still determined to take a lead in the fight against global warming."
The price of carbon permits dropped precipitously to below € 5 a tonne as the economic slowdown which has led to oversupply of allowances to almost half of the average annual pollution limit in the Member States. Even if it is successful the carbon price is unlikely to increase above € 10 per tonne but the result will determine whether there is confidence that Europe is serious about trying to tackle climate change.
The report also highlights a commitment for Europe to fast track a long-term and deeper structural reform of the ETS (Emissions Trading System).
The European Parliament today finally approved plans to delay the auctioning of some CO2 pollution permits by a few years in order to allow the market price of carbon to recover and thus encourage companies to invest in less-polluting technologies and green investments.
The proposed reform known as "back-loading" aims to reverse the falling price of carbon that has resulted from a surplus of permits in the ETS market.
The Commission's proposal of “Auctioning timetable of greenhouse gas allowances" voted today empowers the Commission to adapt the timing of carbon-permit (EUA) sales to impose the market “intervention” in exceptional circumstances and suggests curbing oversupply. But under the agreement, this intervention will be a one-off measure to temporarily withdraw some 900 million allowances running from 2013 to 2020.
Following a near rejection when the report was first presented, a slim majority was found last July that added just one modification to the Commission proposal, namely, that the withdrawal should be subject to an impact assessment as regards any possible negative effects on those industrial sectors that are exposed to a significant risk of carbon leakage.
Initially, several Member States were unsupportive of the measure but the Council has now come round to the wording of the text adopted and voted by European Parliament.
ALDE MEP Chris Davies (UK, LibDem) after the vote said:
"What should have been nothing more than a minor regulatory adjustment had become a test of the EU's entire strategy on climate change.
"The emissions trading system has succeeded in reducing CO2 emissions from major industrial installations but it has failed to promote low carbon investments on the scale needed.
"Now we must decide whether Europe is still determined to take a lead in the fight against global warming."
The price of carbon permits dropped precipitously to below € 5 a tonne as the economic slowdown which has led to oversupply of allowances to almost half of the average annual pollution limit in the Member States. Even if it is successful the carbon price is unlikely to increase above € 10 per tonne but the result will determine whether there is confidence that Europe is serious about trying to tackle climate change.
The report also highlights a commitment for Europe to fast track a long-term and deeper structural reform of the ETS (Emissions Trading System).
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