The European Parliament has rejected a plan to rescue the EU's ailing carbon trading scheme.Continue reading at BBC News:
Members narrowly voted against a so-called "backloading" proposal that would have cut the huge surplus of allowances currently being traded.
Because of this excess, the price of carbon on the EU Emissions Trading Scheme (ETS) has plunged to less than 5 euros a tonne.
But opponents won the day by arguing the plan would push up energy costs.
The price of carbon has fluctuated considerably since the ETS was launched in 2005. The scheme limits the emissions from around 12,000 power plants and factories across the 27-member bloc.
At one point the trading price was well above 30 euros per tonne.
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Tuesday, April 16, 2013
BBC News - EU parliament rejects plan to boost carbon trading
BBC News - EU parliament rejects plan to boost carbon trading:
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