EU Parties’ Negotiators in Draft CO2 Deal, Seeber Says

Climate negotiators from political groups in the European Parliament’s environment committee reached a tentative compromise on a fix for the world’s biggest carbon market, according to a European Union lawmaker.

The deal, which needs backing by political groups before a vote on the measure scheduled for June 19, will restrict the original proposal to delay auctions of some carbon permits in order to help prices rebound, according to Richard Seeber, a member of the European People’s Party. A majority of lawmakers from his group, the biggest in the EU assembly, was against the measure in the previous vote on April 16.