MEPs reject key reform of EU emissions trading scheme.

Guardian: “The EU’s flagship scheme for cutting carbon emissions suffered one of the most serious setbacks in its chequered history on Tuesday, when MEPs voted against a proposal to shore up the price of carbon in the emissions trading scheme.” “The proposed reform – known as “backloading” – aimed to reverse the plummeting price of carbon that has resulted from a surplus of permits in the ETS market. If successful, the reform would have resulted in the postponement of a series of auctions of carbon permits.”