The European Parliament has today sent a strong signal that the price of carbon emissions must be raised by fixing the Emissions Trading System (ETS) - one of the EU's key laws on climate change.
The Parliament's Environment Committee voted in favour of withholding carbon allowances in the ETS - a move that would increase the carbon price if it was adopted.
The economic crisis has reduced industrial production and therefore emissions, flooding the carbon market with free emission allowances and causing the price to collapse.