BRUSSELS Oct 23 A rapid rise in surplus EU
carbon credits is expected to slow from 2014 onwards, but to
tackle a short-term glut member states need to decide before the
end of the year on reforms, a European Commission draft document
It also called on them to discuss and explore options for
more lasting changes to shore up a market that earlier this year
hit a record low.
The draft Commission report on the state of the carbon
market, seen by Reuters, called on the Climate Change Committee
"to decide on the proposed amendment to the auctioning
regulation before the end of the year in order to provide
certainty for market participants".
The committee brings together representatives of member
states as part of a fast-track process for lawmaking.
The Commission document also urged the European Parliament
and the Council of member states to adopt a "mini-amendment" of
the relevant law on the EU Emissions Trading Scheme to underpin
the legal certainty of any reforms.
(Reporting by Barbara Lewis; editing by Rex Merrifield)