An important reform of the European Emissions Trading Scheme (EU ETS) might happen a lot faster than planned so far. On Tuesday, the European Parliament’s Committee for Industry rejected a vote for a reform in 2021. Now it is up to the EP’s Environment Committee to define a position for the Parliament – and it is probable that it will suggest to the plenary to implement a reform as of 2017, i.e. in two years’ time.
The reform suggested by the European Commission aims at increasing the price of pollution. Whenever there is a surplus of emissions certificates, less new allowances will be given out. Once the price increases significantly, new certificates would be released.
For more details, please an article in European Voice.