EU Vote Clouds Cap-And-Trade System's Future

Law360, New York (April 16, 2013, 7:02 PM EDT) -- European lawmakers on Tuesday rejected efforts to tighten the market for carbon pollution permits companies must purchase under the European Union's cap-and-trade system, a move attorneys say could undermine the program by driving already-low permit prices even lower, creating little incentive for companies to invest in cleaner technologies.

Faced with depressed prices for carbon permits due to low demand, the European Commission proposed to postpone, or backload, the auctioning of 900 million permits from the years 2013-2015 to 2019-2020. However, the European Parliament narrowly rejected the...
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