Nine EU ministers, including UK Energy and Climate Change Secretary Edward Davey, have signed a letter calling for reform to the EU Emissions Trading System through the Market Stability Reserve (MSR), stressing the need for all sides to come together to seek an ambitious and pragmatic outcome that has majority support across the EU institutions.
They also reaffirmed their support for the MSR to start in 2017 and for at least the backloaded allowances to be immediately transferred into the reserve.
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