The EU executive will not ask member states to vote on its ETS backloading proposal at the Climate Change Committee meeting on 13 December as anticipated, in a move widely attributed to Germany’s internal division on the issue.
Carbon prices slumped on Friday in response to the European Commission’s announcement. The commission will wait until MEPs have given it a mandate for market intervention, which is likely to happen in the spring, before putting its proposal to the climate committee’s vote.
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