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EU climate chief vows to save scheme

2013-04-17 18:59:00| Climate Ark Climate Change & Global Warming Newsfeed

Guardian: Europe's climate chief vowed on Wednesday to fight on to save the EU's flagship environmental policy, the emissions trading system (ETS), after a serious blow on Tuesday when MEPs rejected reforms aimed at repairing the ailing system. MEPs voted 334 against to 315 in favour of "backloading" the market a proposal aimed to reverse the plummeting price of carbon that has resulted from a surplus of permits in the ETS market leading the price of carbon to fall by almost half to under EUR3 on Tuesday....

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