BRUSSELS, Feb 12 (Reuters) – The European Union’s emissions trading system (ETS) has ‘clear benefits’ and existing safeguards to modulate the carbon price if it rises too high, European Commission President Ursula von Der Leyen said on Thursday, after some government leaders called for a review of the system.
‘The emissions trading system has clear benefits… The ETS also has elements that, if the price, for whatever reason, is too high or economic circumstances are difficult, allow it to modulate the price with the ‘market stability reserve,’ von der Leyen said at a press conference following a summit of EU government leaders.
The EU should analyze these elements in its review of the ETS, scheduled for the third quarter of the year, von der Leyen added.
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(Reporting by Kate Abnett)
