01 Jul '13, 11pm

Ministers and blue chips unite in call to save EU carbon market

The UK has again joined with 11 other countries and businesses across Europe to call on the European Union to urgently approve a temporary fix to its Emissions Trading System (ETS) that could force up the price of carbon. Energy and environment ministers from 12 member states yesterday wrote an open letter calling for the European Parliament to approve so-called backloading proposals in a crucial vote this week, which if passed would withhold a planned auction of carbon allowances later this year, limiting the glut of credits that has dominated the market in recent months. FURTHER READING In the Green Room with Accenture's Mauricio Bermudez Neubauer Climate change poses grave threat to security, says UK envoy The letter, also signed by ministers from Germany, France, Italy, the Netherlands, Denmark, Portugal, Finland, Slovenia, Slovakia and Estonia, raises fresh concerns t...

Full article: http://www.businessgreen.com/bg/news/2278547/ministers-an...

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