The EU’s Environment Committee MEPs backed a draft law to reform the EU Emissions Trading Scheme (ETS). This law would see the reduction of the surplus of carbon credits available for trading into order to support the price.
The group supported the idea of introducing the mechanism early, by the end of 2018, and also proposed that from 2019, to prevent the automatic return to the market of a portion of allowances “back loaded” last year.
The proposed law would create a system that automatically puts a percentage of ETS allowances into the reserve, if the surplus exceeds a certain threshold. And then in the reverse situation, allowances could be returned to the market.
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