The European Parliament´s Environment, Public Health and Food Safety Committee gave the green light to the auctioning timetable to back-load EU emission allowances in phase III of the EU´s Emissions Trading System (ETS) Directive, on the 19th of February.
The report highlights a commitment for Europe to fast track a long-delayed amendment to the ETS, which would confirm the EU´s legal ability to withhold carbon allowances from auction.
The Commission’s “Back-loading” proposal (“Auctioning timetable of greenhouse gas allowances”) says the European Commission is empowered to adapt the timing of carbon-permit sales to impose the market “intervention” in exceptional circumstances and suggests curbing oversupply. A non-binding industry committee vote on 24 January had advised against allowing this market intervention.
The vote in plenary will happen on Tuesday, 16th April.