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03.07.2013

Emissions trading: Federal Environment Minister Peter Altmaier welcomes the European Parliament’s decision

Basis for a viable solution

Basis for a viable solution

Federal Environment Minister Peter Altmaier welcomed the decision the European Parliament took today to temporarily postpone the auctioning of certificates for greenhouse gas emissions. "The European Parliament’s decision provides us with a good basis for finding a viable solution," the Environment Minister said.

In the run-up to the vote Peter Altmaier and 11 other EU Environment and Energy Ministers had again called for a reform of the EU Emissions Trading System. The Ministers had drawn attention to the fact that, in its current form, the system was incapable of sending any pricing signals that would create incentives for the investments that now needed to be made in low-carbon technologies. The reason is that the current supply of certificates considerably exceeds demand, which has resulted in a very low carbon price.

"The EU Emissions Trading System must continue to be one of Europe’s key climate policy instruments. That is why it must provide incentives for investments in low-carbon technologies," Peter Altmaier said.

Further information

Emissions Trading Reform

03.07.2013 | Pressreport No. 099/13 | Emissions Trading