European Parliament's backloading vote a disappointment for the climate
FORTUM CORPORATION, PRESS RELEASE 16 April 2013Fortum considers today’s rejection of the "backloading" of carbon emissions allowances in the European Parliament as a disappointment and a setback for a common European climate policy. The Commission will not withdraw the proposal and will refer it back to the leading ENVI Committee.Although a final conclusion to the matter still awaits, the decision entails a serious threat for the existence of the most cost-efficient climate policy instrument, emissions trading (ETS). Almost all market-based investments are currently on hold in Europe