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Brussels, 8 January 2014
The European Commission welcomes today's vote by EU governments gathered in the Climate Change Committee to postpone the sale of 900 million carbon allowances in the 3rd phase of the EU's Emissions Trading System (EU ETS) which runs up to 2020. This marks a key step in restoring the short term balance in the European carbon market and sets the stage for the proposal of a further structural measure shortly.
Welcoming the vote, Climate Action Commissioner Connie Hedegaard said: ''Back-loading is now a reality, and the Commission hopes that the first allowances can be back-loaded very soon. But while back-loading will help stabilise the carbon market in the coming years, we must also tackle the more structural challenges. The Commission will address these when it proposes the 2030 climate and energy framework later this month."
More background information can be found here.