EU proposes immediate action to halt buildup of CO2 emission-allowance surplus

The European commission says it is taking two important 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 a revision of the auction time profile and back-loading, or delay, of the auctioning of 900-million allowances in the third phase of the EU ETS starting next year, as an immediate first step to address the rapid buildup of the surplus of emission allowances. It also adopted a report on the state of the European carbon market, which...

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