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Europe braces for verdict on climate chief’s carbon plan

Posted on 15 April 2013

The European Union’s 54 billion- euro ($71 billion) cap-and-trade system may be undermined if the bloc’s Parliament votes against Climate Commissioner Connie Hedegaard’s temporary rescue plan tomorrow.
The strategy, known as backloading, would delay the issuing of some new permits under the EU emissions trading system, or ETS, which imposes pollution limits on about 12,000 power plants and factories across the region. The euro area’s recession has cut demand, exacerbating a glut that drove prices in the world’s biggest greenhouse-gas market to a record low in January………………………………………..Full Article: Source


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