Vote on Timing of auctions of greenhouse gas allowances: - extracts from the vote on the report by Matthias GROOTE (S&D, DE)

Type: News   Reference: 93350   Duration: 00:01:59  Lieu: Strasbourg, France - European Parliament
End production: 16/04/2013   First transmission: 16/04/2013
MEPs voted on Tuesday against freezing auctions of a portion of CO2 emission quotas, so as to boost the price of EU "polluter's permits". A majority felt that interfering with the supply of credits would undermine confidence in the Emissions Trading System (ETS), designed to cut greenhouse gas emissions. The proposal to freeze credits, dubbed "backloading", was rejected by a narrow margin, with 334 MEPs voting in favour of an amendment rejecting the proposal, 315 voting against it and 63 abstaining. The proposal will now be referred back to the EP Environment Committee. MEPs opposing the measure advocate deeper reform of the ETS and fear that interfering with the supply of credits could undermine players' confidence in the scheme. Some also believe that a rise in the carbon price would erode the competitiveness of European industry and be passed on in household energy bills. On the other hand supporters of the measure argued that an oversupply of credits must be corrected to make the system function as intended. They say a higher carbon price would catalyse the EU's transition to a green economy by stimulating investment and innovation and could also help to connect the EU carbon market with those of other regions. "I deeply regret today's vote. It is the beginning of the repatriation of climate policy," said EP rapporteur Matthias Groote (S&D, DE). "This kind of politics plays into the hands of climate sceptics. The rejection of the backloading proposal weakens the EU emissions trading system and puts our climate goals at risk," he added.

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TIME DESCRIPTION DURATION
00:00:00 Title 00:00:05
00:00:05 Exterior shot of the EP, Strasbourg. 00:00:05
00:00:10 EP Vice-President Alejo VIDAL-QUADRAS opens the vote on the report by Matthias GROOTE on Timing of auctions of greenhouse gas allowances. 00:00:20
00:00:30 Vote on amendement number 20 (amendment rejecting the proposal) shots during the vote. 00:00:31
00:01:01 Results on the vote of the amendement, with 334 MEPs voting in favour, 315 voting against it and 63 abstaining. 00:00:09
00:01:10 SOUNDBITE (English) Neelie KROES, Commissioner: "The Commission has taken note of Parliament's vote to reject the Commission's proposal. We regret this outcome as we remain convinced that delaying the auctioning of emission allowances is warranted given the considerable surplus of allowances already on the market and the fact that this surplus has furthered grown since the Commission has presented its proposal". 00:00:28
00:01:38 SOUNDBITE (English) Neelie KROES, Commissioner: "The Commission will now reflect on the outcome of today's vote and the way forward and will inform Parliament on its conclusions". 00:00:12
00:01:50 Cutaways, rapporteur Matthias GROOTE, general shot and MEP with sign: 'Bid for the Climate'. 00:00:09
00:01:59 END 00:00:00
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