Davies/ Davey: Reform of EU emissions trading scheme crucial for green investment

Chris Davies MEP, Liberal Democrat Environment Spokesman in the European Parliament, today asked what steps the European Commission is taking to reform the EU’s emissions trading system (ETS) in a parliamentary question to Environment Commissioner Connie Hedegaard.

Chris Davies said:

“The back-loading of carbon allowances approved by the European Parliament in July was an important step, but it was just a temporary sticking plaster.

“To really fix the EU’s Emissions Trading System, we need to treat the cause not just the symptoms. That means long-term structural reforms to shore up investment in green technologies, and the forging of links with other trading schemes to achieve a truly global carbon market.

“Structural reform of the ETS would also level the playing field for British industry, by bringing the price of carbon in the EU into line with our own ambitious carbon floor price.”

Energy and Climate Change Secretary Ed Davey added Continue reading