The European Union’s emissions trading system may have a surplus of 500 million metric tons in the current trading period from 2008 to 2012, said Jos Delbeke, director general for climate at the European Commission.
Creating a gradually built set-aside from the pool of allowances to be auctioned between 2013 and 2020 would help improve the system, he told a conference in Brussels today.
“The set-aside is on the table of ministers,” Delbeke said. “If there’s not an agreement we will continue with the system as it is.”
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