ETS backloading timetable agreed
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Moves to boost the price of carbon across Europe have taken a step forward with EU member states agreeing changes to the sale of ETS allowances
EU governments have formally adopted the European commission’s proposal to amend legislation and postpone the sale of allowances under the emissions trading scheme (ETS).
The vote confirms that 900 million carbon credits scheduled to be sold in 2014–16 will now be withheld until 2019–20. The exact start date of the backloading is yet to be decided however, and the number of allowances to be held back this year will be confirmed then.
“The commission hopes that the first allowances can be backloaded very soon,” confirmed EU climate change commissioner Connie Hedegaard. “But while backloading will help stabilise the carbon market in the coming years, we must also tackle the more structural challenges.”
Hedegaard confirmed that the European commission will be its proposals to reform the ETS in its new 2030 climate and energy framework which will be published on 22 January.
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