U.K. Lawmakers Call for Intervention in Carbon Market (Update1)- Bloomerg Business Week

Feb. 8 (Bloomberg) — Europe needs stricter limits on greenhouse gases and the power to intervene in carbon markets as its cap-and-trade program fails to encourage investments in cleaner energy, U.K. lawmakers said today in a report.

“It is imperative that there are mechanisms for reducing the EU cap,” the committee said. While the U.K. alone couldn’t change EU caps, the 16-member panel representing the Labour, Conservative and Liberal Democrat parties said “the U.K. should be prepared to act “unilaterally” to curb its supply of permits and “demonstrate a continuing leadership role on tackling climate change.”

[1] http://www.businessweek.com/news/2010-02-08/u-k-lawmakers-call-for-stricter-co2-caps-market-intervention.html