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Move to fix EU carbon market praised

2013-07-04 07:00:00| Climate Ark Climate Change & Global Warming Newsfeed

BBC: The UK government and green groups have welcomed a European Parliament move to rescue the EU's carbon trading scheme, but say deeper reforms are needed. MEPs backed a European Commission plan to freeze the auctioning of some carbon dioxide (CO2) emission allowances. The idea is to reduce the current oversupply of allowances, thereby pushing up the carbon price. Carbon trading gives heavy industry an incentive to cut CO2 emissions, which have been linked to global warming. The parliament...

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