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A major setback to the EU's climate policy, says critics of Tuesday's vote (Photo: DerGuy82)

MEPs reject move to fix flagship climate policy

The European Parliament on Tuesday (16 April) voted against a proposal to revive one of its flagship climate policies, a move green groups called a "historic failure."

The vote concerned a tweak to the Emissions Trading Scheme (ETS), suffering from a plunge in carbon prices due to the excess number of carbon permits in the markets.

The proposed reform - known as backloading - would have postponed the auctioning of 900 million carbon allowances from 2013-2015 until 2019-2020.

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