EU Lawmakers Back Carbon Permit Freeze To Boost Prices

Law360, New York (December 10, 2013, 4:29 PM EST) -- The European Parliament formally approved plans Tuesday to freeze 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.

By a 385-284 vote, EU lawmakers gave final authorization the one-time 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.

Lawmakers had first approved the changes in July, after rejecting a previous fix...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.