Bloomberg: The European Unions regulatory arm proposed to set the quota for international carbon credits at the lowest level allowed by law after imports aggravated a record glut of permits in the EU emissions-trading system.
Participants in the worlds biggest carbon market will be entitled between 2008 and 2020 to use United Nations credits totaling up to 11 percent of the EU permits granted to them for free in 2008-2012, according to a draft regulation published by the European Commission yesterday....