EU Delays Releasing Carbon Permits To Boost Prices

Law360, New York (July 3, 2013, 3:00 PM EDT) -- The European Parliament approved measures on Wednesday freezing the number of pollution allowances available in upcoming carbon auctions in an effort to increase prices that have fallen well below the European Union's expectations.

The move authorizes the delay of 900 million allowances in response to the plummeting price of carbon offsets that lawmakers have blamed on an initial oversupply and the continent's ongoing economic troubles.

EU lawmakers voted 344-311 in favor of the temporary fix, which environment committee chairman Matthias Groote said was necessary to ensure...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.