Translation of "Mise en réserve de permis d'émissions " (French → English) :

16. Points out that, according to the 2010 Commission analysis, there could be up to 2.4 billion allowances in surplus in the ETS; points out that the provision allowing these allowances to be banked has enabled carbon prices to be maintained; considers, furthermore, that stable rules for the European emissions trading market are important for encouraging investment and that a Commission initiative to make registry access safe and improve market regulation would be welcome;

Account should be taken of exceptional changes in drivers determining the balance between the demand for and supply of allowances, notably the renewed economic slowdown, as well as temporary elements directly related to the transition to phase 3, including increasing unused volume of allowances valid for the second trading period for compliance in the said period, increasing volumes of certified emission reductions and emission reduction units from emission reduction projects under the Clean Development Mechanism or under Joint Implem ...[+++]entation provisions for surrendering by operators covered by the scheme, the monetisation of allowances from the new entrants reserve for the third trading period for support of demonstration projects of carbon capture and sequestration and innovative renewable energy technologies (‘NER300’) pursuant to Commission Decision 2010/670/EU and release of allowances not needed in the new entrants reserves for the second trading period.

16. Recognises that in order to have a 50:50 chance of maintaining climate change at +2C, industrialised-country emissions need to be reduced by at least 80-95% by 2050 as against 1990 levels; underlines the specific responsibility of developed countries to take the lead in reducing emissions, and takes the view that aggregate reductions by industrialised countries at the high end of the 25-40% range recommended by Intergovernmental Panel on Climate Change by 2020 are necessary; considers, in this context, that all industrialised countries need to adopt targets that require ambitious reductions in current emission levels and that banki ...[+++]ng of surplus Assigned Amount Units from the 2008-2012 period should not be allowed, as this would seriously undermine the environmental effectiveness of an international climate agreement; calls on Russia to play an active role in future international negotiations and to facilitate a swift agreement in Copenhagen;

39. Stresses, therefore, the urgent need for a revision of the EU ETS in order to address effectively the shortcomings experienced during the trial period, including the windfall profits of companies due to the assets acquired from the allocation of CO2 quotas free of charge (for instance the large electricity producers); emphasises that the strong endorsement of the polluter pays principle in the EU Sustainable Development Strategy implies that the EU ETS should be primarily based on auctioning of the emission permits and on a total emissions cap that is consistent with the EU 2020 reduction target of 30%, including quantitative limits ...[+++] and qualitative requirements for the use of Clean Development Mechanism / Joint Implementation (CDM/JI) project credits;

37. Stresses, therefore, the urgent need for a revision of the EU ETS in order to address effectively the shortcomings experienced during the trial period, including the windfall profits of companies due to the assets acquired from the allocation of CO2 quotas free of charge (for instance the large electricity producers); emphasises that the strong endorsement of the polluter pays principle in the EU Sustainable Development Strategy implies that the EU ETS should be primarily based on auctioning of the emission permits and on a total emissions cap that is consistent with the EU 2020 reduction target of 30%, including quantitative limits ...[+++] and qualitative requirements for the use of Clean Development Mechanism / Joint Implementation (CDM/JI) project credits;

37. Stresses, therefore, the urgent need for a revision of the EU ETS in order to address effectively the shortcomings experienced during the trial period, including the windfall profits of companies due to the assets acquired from the allocation of CO2 quotas free of charge (for instance the large electricity producers); emphasises that the strong endorsement of the polluter pays principle in the EU Sustainable Development Strategy implies that the EU ETS should be primarily based on auctioning of the emission permits and on a total emissions cap that is consistent with the EU 2020 reduction target of 30%, including quantitative limits ...[+++] and qualitative requirements for the use of Clean Development Mechanism / Joint Implementation (CDM/JI) project credits;