European Lawmakers Propose 35 New Amendments to Carbon Law Fix

Members of the European Parliament’s environment committee proposed 35 new amendments to a draft emissions-trading law change aimed at curbing oversupply of permits from this year, according to an EU document.

The committee, which is due to vote on the measure next month, will consider a total of 42 amendments after its chairman Matthias Groote proposed seven changes in a draft report in November. The whole parliament may vote on the proposal in March at the earliest.

The changes sought by lawmakers range from rejecting the European Commission’s reassertion of its right to decide when carbon-permit auctions are held, to increasing the pace of emission reductions in the coming years. Some members of the committee want to ensure any intervention would be exceptional and the allowances would be returned to the market before 2020.