EU Proposes New Carbon Emissions Market Rules

Law360, New York (July 15, 2010, 3:37 PM EDT) -- A European Commission committee has approved a plan for auctioning carbon emission allowances starting in 2013 that will allow European Union member states to opt out of the EU-wide carbon market and run their own markets instead.

Now that the commission's climate change committee, composed of climate experts from various member states, has approved the plan, it will be submitted to the European Parliament and counsel for a three-month review period, the commission said Wednesday.

If approved, the rules would govern the general emissions trading market...
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