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European parliament approves plan to bolster carbon trading

Posted on 20 February 2013

Lawmakers in Brussels moved on Tuesday to shore up the sagging market for carbon emissions permits, a central component of the European Union’s efforts to reduce air pollution.
Prices of carbon allowances, which let companies emit greenhouse gases, fell last month to as low as 2.80 euros, or about $3.75, a metric ton, compared with 9 euros a ton a year ago and 30 euros a ton in 2008. To reduce the supply of permits and drive up the price, the environmental committee of the European Parliament voted to allow the European Commission to reduce the number of allowances to be auctioned over the next three years……………………………………Full Article: Source


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