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EU freezes vast raft of carbon credits

2013-11-11 11:35:00| Climate Ark Climate Change & Global Warming Newsfeed

Sky News: The EU says it will temporarily freeze 900 million tonnes of carbon emissions quotas to revive prices on its ill-fated CO2 Emissions Trading Scheme (ETS) to reduce pollution. The agreement to 'backload', or postpone the release of these credits to the market until 2020, is intended to raise prices for the pollution quotas traded by more than 11,000 industrial entities, the bloc's Lithuanian presidency and Climate Action Commissioner announced on Friday. Despite a rally on the back of the decision,...

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