EU lawmakers adopt draft reform of carbon market

Lawmakers in the European Parliament Environment Committee on Thursday adopted a long-awaited draft proposal for a reform of the carbon market after 2020, including a higher rate at which permits should be removed from the market. The political groups in the body also endorsed a draft proposal that will push for a doubling of the rate at which the Market Stability Reserve (MSR) soaks up excess allowances to 24 percent in the four years until 2022. Benchmark European carbon prices were down 2.2 p