The European Parliament, on March 15th, voted to approve a non-binding resolution which would recommend that EU regulators consider restricting the amount of CO2 emissions credits available to companies on the EU emissions-trading market. The vote was seen as a response to the downward trending prices of emissions credits, which enabled companies to purchase larger quantities of CO2 credits and thus emit greater amounts of toxic pollutants. Furthermore, the reduced price of credits also meant that the market is no longer able to provide sufficient encouragement for green investment. This move was seen as the parliament’s attempt to head off the threat of rising emissions and ensure that the EU would be able to meet its goals of reducing emissions by 40% in 2030 and 60% in 2040.

Source: Article at Bloomberg

Article from Reuters

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