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European Union agrees to postpone sale of carbon emission allowances

6:47 AM MST | January 9, 2014 | Michael Ravenscroft

Member states of the European Union have voted to postpone the sale of 900 million carbon dioxide emission allowances under the EU's emissions trading system (EU ETS), a move that has been welcomed by the European Commission. The postponement of the sale—known as backloading— is intended to 'restore the short-term balance in the European carbon market,' according to the commission. It was originally planned to sell the 900 million allowances during the period 2014–2016, but the sale will now be delayed until 2019–2020. The overall...

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