The chairman of the European Parliament’s environment committee called on the European Commission to present without delay its proposal to curb the oversupply in the bloc’s carbon market.
Matthias Groote, a German Socialist member of the parliament, urged the European Commission to publish a report on the functioning of the EU emissions program and a draft regulation to delay some auctions of carbon allowances “as soon as possible and not later than Nov. 14,” according to a letter to commission President Jose Barroso obtained by Bloomberg News and dated Nov. 7.
The 27-nation bloc’s regulatory arm is planning to publish next week details of its strategy to reduce oversupply in its emissions trading system, specifying a number of permits to be delayed. The European People’s Party, the biggest group in the parliament, yesterday called on the commission to delay the presentation of the backloading proposal by about five months.
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