The European Union’s emissions trading system (ETS) has “clear benefits” and existing safeguards to modulate the carbon price if it rises too high, European Commission President Ursula von der Leyen stated on Thursday, after some government leaders called for the system to be revised.
“The emission trading system has clear benefits…The ETS has also elements that if the price for whatever reason is going too high, or the economic circumstances are tough, that you can with the ‘market stability reserve’, modulate the price,” von der Leyen informed a news conference after a summit of EU government leaders.
The EU will view into these elements in its review of the ETS, planned for the third quarter of the year, von der Leyen added.
(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)
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