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January 8, 2015

EU Commission Calls For Comments On Emissions Trading Revisions


On December 19, 2014, the European Union (EU) Commission called
for comments on EU Emission Trading System Directive revisions. The revisions
include changes to how carbon allowances will be made available to participants
in the EU’s emissions trading system after 2020 to reduce GHG emissions by at
least 40 percent in 2030 compared to 1990. The 2030
framework for climate and energy
also proposes the use of 400
million carbon allowances to create a fund for renewable energy and carbon
sequestration projects, and the use of two percent of allowances to finance
energy efficiency and energy system upgrades in poorer EU countries. Parties
interested in commenting on the revisions must register and submit input by
March 16, 2015