1 Amendments of Cornelia ERNST related to 2014/0011(COD)
Amendment 17 #
Proposal for a decision
Recital 1 a (new)
Recital 1 a (new)
(1a) The legal limit on carbon dioxide set in the ETS has been too generous, EU allowances have been over-abundant and their price collapsed, rendering the incentives to cut CO2 emissions meaningless. Generous national allocations of free allowances, lower energy use due to the economic crisis and emissions-reducing effects of complementary policies such as efficiency standards and targets for renewable energy sources contributed to the price decline. Considering the ETS in a state of deep crisis, the European Union should take a greater role in directly regulating greenhouse gas emissions at source, abandoning market-oriented approaches.