EU Proposes Carbon Permit Auction Delay To Raise Prices

Law360, New York (February 19, 2013, 3:52 PM EST) -- A European Parliament committee on Tuesday endorsed a proposed plan to reduce the number of pollution allowances available in upcoming carbon auctions, responding to the plummeting price of carbon offsets lawmakers are blaming on an initial oversupply and the continent's ongoing economic troubles.

Frustrated by carbon price levels that have recently stayed below 10 euros per ton after reaching close to 30 euros per ton in 2008, environment committee members voted 38-25 to approve a proposal to delay issuing some pollution allowances in an attempt to...
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