After the European Parliament voted down the key parts of carbon market reform, France, the holder of the EU rotating presidency, plans to ask the bloc to enhance a mechanism to prevent excessive carbon price spikes as part of the most comprehensive reform of its emissions trading system (ETS), reported Bloomberg.
As EU member states sign off on a plan to further reduce emissions, France is pursuing a solution that would help firms avoid sharp increases in carbon pricing. The country thus requested national governments to support key parts of the European Commission’s planned carbon market overhaul.
