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Today the EU Parliament endorsed an extensive package of reforms to rescue Europe’s carbon market. Today’s package would from 2018 begin tackling the current 2 billion tonne oversupply of carbon allowances and prevent an avalanche of roughly 1.6 billion allowances from crashing the market in 2019 and 2020. The Environment Committee has also voted to fast-track negotiations with the Commission and the Council rather than waiting for a second vote in plenary.

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