EU States Give Final OK To Carbon Permit Freeze

Law360, New York (January 9, 2014, 4:07 PM EST) -- European Union member states on Wednesday signed off on a freeze of the number of pollution allowances available in upcoming carbon auctions in an effort to increase prices that have fallen well below the EU's expectations.

EU governments formally approved the delay, or back-loading, of 900 million allowances in response to the plummeting price of carbon offsets that many have blamed on an initial oversupply and the continent's ongoing economic troubles, this after the European Parliament gave the go-ahead last month.

''Back-loading is now a reality,...
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