5 May 2015
The European Council and European Parliament today reached an agreement on the introduction of a Market Stability Reserve. The agreement – part of the continued reform of the EU ETS – needs to be endorsed by the Committee of Permanent Representatives and by MEPs in the European Parliament's Environment Committee and eventually by all MEPs, on the basis of a consolidated text which will then be formally adopted by the Council.
Commenting on the agreement, IETA’s European Policy Director Sarah Deblock said:
“IETA welcomes the agreement that Europe’s policy-makers have reached on the Market Stability Reserve. We are pleased to see that this crucial reform to the EU ETS will be introduced before 2020 and that surplus allowances will be placed into the MSR, instead of returning them to the market at the end of the current trading period which would have caused disruption in the market.
“Today’s compromise agreement is another step to restoring the credibility of the EU ETS and ensuring that an efficient and effective carbon market system remains at the heart of Europe’s climate change response.”
For further enquiries, please contact Sarah Deblock on deblock@ieta.org
