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The proposal to start operating a so-called
Market Stability Reserve (MSR) under the Emissions Trading
System (ETS) from Jan. 1, 2019, was adopted at a closed-door
meeting of diplomats representing the 28 nations of the EU.
"Member states adopt Market Stability Reserve file to improve
operation of carbon market! MSR will be operational from 2019,"
the Latvian Presidency tweeted.
A qualified majority of EU member states approved a final deal
on the MSR, Alexis Dutertre, France's deputy permanent
representative to the EU in Brussels, tweeted.
Six countries - Poland, Romania, Bulgaria, Cyprus, Hungary and
Greece - voted against, two EU diplomats told Reuters.
The MSR is aimed at removing some of the glut of carbon permits
which have depressed prices in the ETS.
EU environment ministers will now rubber stamp the deal at a
meeting in Luxembourg in June and then a plenary session of the
European Parliament will consider it in July.
EU benchmark carbon prices were down by 0.02 euros at 7.61 euros
a tonne at 1014 GMT (0614 EDT).
(Writing by Nina Chestney in London; editing by Jason Neely and
David Evans)
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