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EU parliament backs reform of carbon market

The European Parliament approved plans to overhaul the Europe Union’s carbon market, a key part of strategies to curb the EU’s global-warming emissions. Under reforms due to take effect in 2019, the Emissions Trading System (ETS) will set aside a portion of carbon credits if the surplus of emission allowances on the market exceeds a certain threshold, reports AFP. carbon marketThe reserve will then be put back onto the market if prices recover. The Market Stability Reserve (MSR) “is a crucial building block to help ensure that CO2 (car...