No major reform of Europe’s emissions trading before 2017

The European Commission has published a report on structural reform of the emissions trading scheme and short-term actions to raise the carbon price.

There will be no structural reform of the EU emissions trading scheme (EU ETS) until at least 2017, the European Commission said in November.

It is unlikely to be possible to agree on actions to deal with the current surplus of carbon allowances before then.

The commission makes the comment in a report proposing six options to reform the scheme.1 These include increasing the EU’s carbon reduction target for 2020 to 30% from its current 20%; permanently removing more than one billion allowances; extending the scope to new sectors; and limiting the use of Kyoto credits.

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