CAN Europe, Greenpeace and WWF welcomed today’s European Commission proposals for structural reform of Europe’s carbon market.

The options for long-term strengthening of the failing ETS follow a separate proposal earlier this week to temporarily reduce the glut in carbon  emissions allowances, a process known as  backloading.  NGOs welcome in particular the Commission’s analysis that raising the EU’s carbon emission  reduction target for 2020 from 20 to 30 percent would bolster the ETS. The groups also  support the proposed permanent withdrawal of emission allowances, a steeper yearly  reduction in allowances and limits to offset credits.

 

Download  Press release Carbon Market Reform 14 Nov 2012