MEPs in Strasbourg today narrowly (334-315) rejected a proposal by the European Commission to delay the auctioning of greenhouse gas allowances to avoid a further drop in the price of carbon. The European Emissions Trading Scheme (ETS) was originally introduced to incentivise investments in low carbon technologies by putting a price on polluting greenhouse gas emissions.
UK Liberal Democrat MEP Chris Davies, the environment spokesman for the Liberal Democrat (ALDE) group in the European Parliament, commented after the vote:
“MEPs have turned their back on the future. Continue reading