Local view for "http://purl.org/linkedpolitics/eu/plenary/2013-04-16-Speech-2-297-000"
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"en.20130416.39.2-297-000"2
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"The Emissions Trading Scheme (ETS) is at the heart of the EU’s climate change policy and, as the only system of its kind, has helped make Europe a world leader in fighting global warming. However, the reduction in industrial output since the economic downturn, combined with an over-allocation of carbon credits in the previous two rounds, has led to a dramatic drop in the price of carbon and means the scheme is now in danger of collapse.
This is why I voted in favour of this report, which would have allowed the Commission to alter the timetable for the auctioning of ETS allowances. By releasing fewer permits in the short term, it was hoped the price of carbon would be pushed back up, thus getting the scheme back on track. A higher price of carbon would be an incentive for investment in clean, low-carbon technology, which is vital if we are serious about tackling climate change. Unfortunately, the European Parliament, with support from several UK Conservatives, voted against the proposal, and this will put the survival of the scheme, and the EU’s ability to meet its carbon reduction targets, in doubt."@en1
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