EU takes steps to mitigate surplus of CO2 permits

 The European Commission says it is taking two key steps to address the growing supply-demand imbalance of carbon dioxide (CO2) emission allowances in the European Union’s emissions trading system (EU ETS). The commission proposes back-loading, or a delay, to the auctioning of 900 million emission permits in the third phase of the EU ETS starting next year, as an immediate first step to address the rapidly growing surplus of permits, which has driven permit prices to record lows this year. It also adopted a report that sets out a range of possible...

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