EU Lawmakers Agree To Hold Back 1.4B Carbon Permits

Law360, New York (December 20, 2011, 5:54 PM EST) -- A European Parliament committee voted Tuesday to help lift sinking carbon permit prices and encourage green investments by withholding as many as 1.4 billion of the European Union's Emissions Trading System credits in the next phase of trading.

Lawmaker Peter Liese said the committee had approved allowing a "careful intervention" in the Emissions Trading System — a cap and trade program launched in 2005 that covers 11,000 power stations and industrial plants in 30 countries — to save it from excessively low or high carbon prices....
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