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Thursday, 20 January 2011

Future of the clean development mechanisms discussed in European Parliament

Nick Campbell, Chairman of BUSINESSEUROPE's Climate Change Working Group, participated on 12 January in a hearing at the European Parliament on the future of the clean development mechanisms in the EU emissions trading scheme. A proposal for a decision restricting the use of credits from industrial gas projects post-2012 will be scrutinised by the Council and Parliament after the expected end of the comitology procedure in late January 2011. BUSINESSEUROPE recalls that these mechanisms are very important vehicles for cost-efficient emission reductions and are the first step towards a global carbon market. Future restrictions must therefore be duly justified and transparent, must not create uncertainties for the market, and must not be retroactive.

Source:BUSINESSEUROPE

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