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EnviroTech :: Climate Change

European Council will not oppose backloading of greenhouse gas allowances

3:51 AM MST | February 24, 2014 | Michael Ravenscroft

The European Council decided today not to oppose a proposal from the European Commission to delay the auctioning—backloading—of carbon dioxide emission permits in the 2013–20 period of the European Union Emissions Trading System (EU ETS). The measure will allow the surplus of allowances that has built up in the EU ETS, mainly as a result of the economic crisis, to be addressed. The commission had proposed delaying the auction of 900 million emission permits. The decisions by the European Council and the European Parliament—taken...

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