Statement by Secretary of State Edward Davey in response to the EU ETS vote today in Brussels.
Secretary of State Edward Davey said:
“Today’s decision by the Council to support back-loading is welcome and I am pleased that both they and the European Parliament have given final approval of this temporary measure. I look forward to its swift implementation as soon as possible. However, we need urgent structural reform to strengthen the EU Emissions Trading System, and deal with the glut of allowances that is reducing the price of carbon so that it can provide a strong, long-term signal to stimulate low-carbon investment.”