European Parliament's Committee Approve 2018 Carbon Market Reform

On 24 February, a draft law to reform the EU Emission Trading Scheme (ETS), aimed at reducing the surplus of carbon credits available for trading in order to artificially boost the price, was backed by Environment Committee (ENVI) members in a vote. The MEPs were in favor of introducing early the mechanism known as MSR (Market Stability Reserve), by the end of 2018, three years earlier than the European Commission’s proposal.

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