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Key EU Parliament Committee Endorses Tougher Carbon Reform

  • Lawmakers vote to speed up greenhouse gas reductions in ETS
  • Environment committee seeks to curb carbon market speculation

Lawmakers in the European Parliament’s environment committee endorsed a set of changes to the biggest overhaul of the European Union’s carbon market in a push to further bolster the emissions-reduction program.

In Tuesday’s vote, members of the so-called ENVI committee tentatively backed amendments to speed up the pace of carbon cuts, toughen permit supply controls and improve existing shields against price shocks. They also proposed limiting financial investors’ access to the Emissions Trading System, which some blamed for prices soaring to records earlier this year.