EU to Consider Limits to UN Excess Emission Rights, Draft Shows
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European Union countries will next month discuss restrictions on United Nations emissions permits after 2012 that may include limits on sales and the use of revenue from excess rights, according to a draft EU document.
The debate by environment ministers from the 27-nation bloc on March 9 will follow a political agreement in October on the need to tackle the surplus, which threatens global climate-protection goals. It’ll also build on internal EU talks during the 2011 UN climate summit, when some states sought a limit on the carry-over of excess UN permits and others favored no restrictions, showed the document obtained by Bloomberg.