28.04.2015 - New EU proposal suggests Jan. 1, 2019 start for carbon market reform
A new proposal from Latvia, holder of the EU presidency, puts forward a date of Jan. 1, 2019 to start reforms of the Emissions Trading System (ETS), according to EU sources, as part of efforts to seal a compromise deal. The latest proposal says a Market Stability Reserve, to hold surplus carbon allowances, should be set up in 2018 and start operating from Jan. 1, 2019, two years earlier than the European Commission's original proposal. It also says unallocated allowances, surplus because of factory closures, should be transferred to the reserve in 2020. The EU sources, speaking on condition of anonymity, said the date was circulated in a proposal from the Latvian presidency on Friday...............................................Full Article: Source
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