13 January 2015 – The Prince of Wales’s Corporate Leaders Group has written to MEPs, calling on them to reform the European Union Emissions Trading Scheme (EU-ETS) to include a Market Stability Reserve (MSR) by 2017 at the latest, to keep the continent on track for developing a low carbon economy and energy system.
A Market Stability Reserve would reduce the amount of emissions allowance units (EUAs) that the EU is permitted to auction on the global market, should the upper threshold of EUAs already in circulation be exceeded.
The Prince of Wales's Corporate Leaders Group (CLG) said that introducing the MSR earlier rather than later "will give the necessary signals to investors and industry to effectively transition to a low carbon economy and energy system" and "mitigate any downward pressure on the carbon price from structural economic changes or from other energy policies."
