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EU nations agree carbon market reforms should start in 2019-sources

Posted on 30 April 2015

European Union member states reached a provisional agreement that carbon market reforms should begin on Jan. 1, 2019, at closed-door talks on Wednesday, paving the way for a further round of negotiations next month, diplomats said.
Member states have been arguing for weeks over when a reform referred to as the Market Stability Reserve (MSR) should be introduced to remove some of the surplus allowances that have depressed permit prices on the EU Emissions Trading System (ETS). The ETS is meant to be central to the EU’s efforts to reduce carbon emissions, but oversupply following recession has meant the price of permits is so low, it is very cheap to burn coal, the most carbon-intensive of the fossil fuels………………………………………..Full Article: Source


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