| The EU Environment Council has agreed new measures to reform the Emissions Trading System (ETS). It has agreed to create a market stability reserve (MSR) for the greenhouse gas emissions trading scheme, a ‘cap and trade’ system designed to cut pollution by making businesses pay for producing greenhouse gas emissions.
Companies can buy and sell emission allowances, each giving the right to emit one tonne of CO2 or the equivalent of another greenhouse gas. The MSR aims to tackle the imbalances in supply and demand of carbon credits as there was a significant surplus of allowances in the EU ETS in 2013...............................................Full Article: Source
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