Nov. 13 (Bloomberg) -- The European Commission may be forced to weaken its plan to temporarily remove 900 million metric tons of carbon allowances from its emissions market, because of opposition by some countries, Deutsche Bank AG said.
The plan will not be approved before April at the earliest, Mark Lewis, an analyst for the bank in Paris, said today in an e-mailed note.
“Given the opposition to this proposal that exists in some quarters, the risk is that this timeframe is over-optimistic, and the 900 million number proposed by the commission may be subject to revision in the negotiations that will now follow,” he said. Should it be approved, permits may rise above 15 euros a ton, he said.
To contact the reporter on this story: Mathew Carr in London at firstname.lastname@example.org
To contact the editor responsible for this story: Rob Verdonck at email@example.com