France Proposes Stronger EU Shield Against Carbon Price Spikes
- Bloc’s French presidency outlines deal on carbon market reform
- Compromise plan keeps main parameters of overhaul unchanged
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The European Union should strengthen a mechanism to prevent excessive carbon price spikes as part of the deepest reform of its emissions trading system, according to a proposal by France, which chairs member states talks about the measure.
The holder of the EU rotating presidency asked national governments to endorse key parameters of the carbon market overhaul that was proposed by the European Commission in July last year, according to a document seen by Bloomberg News. France is attempting a compromise that would ensure companies avoid sharp moves in carbon prices as member nations sign off on a plan for greater pollution reductions.