Haven Power

European Parliament approves EU ETS reform plans

European Parliament approves EU ETS reform plans


The European Parliament has given its backing to proposals to reform the EU Emissions Trading Scheme (ETS) beyond 2021. On Wednesday 15 February MEPs endorsed plans to reduce the amount of carbon allowances in the scheme annually by 2.2% (from 1.74%), and to double the rate at which the EU’s Market Stability Reserve can pull excess allowances out of the market from 2019 onwards. Iain Duncan MEP, who has driven the reform proposals through the European Parliament, said that the vote sent a strong message to the European council that “we take the fight against climate change seriously”.

European Parliament