Davies: MEPs approve back-loading to shore up EU emissions trading scheme

Chris Davies MEPMEPs voted today by 385 votes to 284 to support ‘back-loading’ proposals that will shore up the EU’s emissions trading scheme today by delaying the sale of carbon credits.

UK Liberal Democrat European environmental spokesperson Chris Davies commented after the vote:

“What should have been nothing more than a minor regulatory adjustment had become a test of the EU’s entire strategy on climate change. We must now ensure Europe takes the lead in the fight against global warming by pursuing long-term structural reform of the ETS.” Continue reading

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

Davies: backloading vote a stepping stone to deeper structural reform of EU ETS

Chris Davies MEPMEPs voted today to support the EU’s beleaguered emissions trading system (ETS), its principal tool in the fight against global warming.

The European Parliament gave its backing to ‘backloading’ proposals intended to support the price of carbon and maintain trading by delaying the sale of carbon allowance.

The hotly contested vote was widely seen as a test of support for EU efforts to reduce CO2 emissions at a time of economic crisis.

The UK Liberal Democrat European environmental spokesperson Chris Davies commented after the vote:

“What should have been a modest regulatory adjustment has taken on huge importance and had divided governments across Europe. Continue reading

Davies: Tories blow second chance on business carbon vote

Chris Davies MEPConservative MEPs got a second opportunity to help British business today – and once again blew it.

In April, the European Parliament voted on a proposal to backload the continent’s Emissions Trading Scheme that sets a price for industrial carbon dioxide emissions in an effort to combat climate change.  The vote was lost be 334-315 with British Tory MEPs voting against.

Today, the Environment Committee of the European Parliament voted again on the measure, sending it back to the full parliament for another attempt to pass the legislation.

Tory MEPs voted against backloading despite knowing that carbon prices in the UK leave UK manufacturers paying more for their electricity than their EU competitors and the EU plans would have reduced that gap.

Their votes pu tUK manufacturing industry at a disadvantage compared to Germany or the Netherlands.

Speaking after the Environment Committee’s 2-1 endorsement of the plan UK Lib Dem MEP Chris Davies MEP said, “Conservative MEPs have turned their back on the future and shown their contempt both for the needs of British industry and the policies of the coalition government. Continue reading

Davies/ Hall: Conservative MEPs betray British business in carbon vote

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