Establishment of Council’s position - important step towards safeguarding the EU emissions trading system

08 November 2013, Last updated at, 11:55 EEST
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author: Reuters/Scanpix

Today the Committee of Permanent Representatives (COREPER I) agreed on a mandate for the Lithuanian Council Presidency to enter into informal trilogue negotiations with the European Parliament and European Commission seeking a first reading agreement on Proposal for a Decision of the European Parliament and of the Council amending Directive 2003/87/EC clarifying provisions on the timing of auctions of greenhouse gas allowances.

The Chair of the COREPER I ambassador Arūnas Vinčiūnas noted that agreeing on Emissions Trading System clarification is a very important issue for the EU as it will contribute to the proper functioning of the EU ETS.

“There is a pressing need to redress the carbon price and reassure markets that the EU is serious about ensuring the proper functioning of its ETS,” said ambassador A. Vinčiūnas.

The Presidency has suggested to the Committee (COREPER I) that the Council accepts the single EP amendment with no other changes to the Commission proposal, and the Committee agreed by qualified majority.

The European Parliament Plenary voted on the Proposal on 3 July, 2013. It agreed to a single amendment to the Commission’s proposal. The EP amendment conditions the adaptation of the timetable of auctions to a prior impact assessment of the risks of carbon leakage for particular sectors, such an adaptation is to take place only once, in exceptional circumstances and during the third trading period, beginning in 2013, and only for a maximum number of 900 million allowances.

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