U.K. Seeks EU Draft Legislation on Carbon Market Fix by Year-End
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The U.K. wants the European Commission to propose by the end of this year draft legislation to strengthen the EU emissions trading system after 2020, according to the Department of Energy & Climate Change.
The 28-nation European Union is considering options to overhaul its carbon market after the price of emission permits tumbled to a record low in April. The commission, the bloc’s regulatory arm, last year floated six scenarios to improve the system and has signaled it will take its next steps before the end of December.