Oct. 16 (Bloomberg) -- The Climate Markets & Investment Association sought a 1.23 billion-ton reduction in supply of European Union carbon allowances in 2013 and 2014.
There should be no new auctions of carbon allowances in 2013, apart from those sales delayed from 2012 to help finance new climate-protection technology, the association said today in an e-mailed statement.
The CMIA recommended a supply control mechanism that would systematically remove from the market a number of surplus permits more than three years old, according to the statement. The mechanism would remove 277 million tons in 2013 alone, the association said.
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