The Environment Committee of the European Parliament today voted to support a proposal to temporarily amend the supply of emissions allowances in the EU emissions trading scheme (ETS). The proposal, better known as ‘back-loading’, has proven contentious, and failed in its initial bid through the parliament in April. This latest proposal contains a number of compromises – including provisions for a new fund and a revision of state aid rules in the context of ETS allowances – tabled by MEPs which have gathered support from parliamentarians
Commenting on the vote today, Sandbag’s Brussels based campaigner Rob Elsworth said:
With this vote the Environment Committee has sent an important political signal: there is still commitment to the EU’s flagship climate policy, the EU ETS, and to action on climate change. Nevertheless, it cannot be ignored that there are still some 1.7 billion surplus allowances in the scheme and work remains to strengthen its environmental integrity. We hope the back-loading proposal swiftly continues through the Parliament and helps pave the way for a meaningful discussion on structural reform of the EU ETS.