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Carbon Investors Support EU Adoption of 30% Emissions Reduction
2010-10-18 10:12:53.169 GMT
By Mathew Carr
Oct. 18 (Bloomberg) -- The Carbon Markets & Investors
Association, a lobby group of banks and greenhouse-gas-trading
companies, said it supported the adoption by the European Union
of tighter emission limits in 2020.
The group would support a unilateral target of a 30 percent
cut in emissions from 1990 levels by the end of the decade, the
lobby said today in an e-mailed statement. The current target is
for a 20 percent reduction.
The EU is setting rules this year for the third phase of
its carbon market, the eight years through 2020. The second
phase runs for the five years through 2012.
"The global economic downturn has had the effect of
significantly reducing demand for EU emission allowances,
leaving many installations covered by the EU emissions trading
system with an excess of Phase II allowances that can be banked
into Phase III," the association said in the statement.
For Related News and Information:
Top Power Stories: PTOP <GO>
Emissions-trading stories: NI ENVMARKET BN <GO>
Today's top energy news: ETOP <GO>
European power-markets home page: EPWR <GO>
--Editors: John Buckley, Reed Landberg
To contact the reporter on this story:
Mathew Carr in London at +44-20-7073-3531 or
m.carr@bloomberg.net
To contact the editor responsible for this story:
Stephen Voss on +44-20-7073-3520 or sev@bloomberg.net
