The New York Times reports:
The European Parliament approved on Wednesday a measure designed to revive sagging prices and confidence in the European Union’s emissions trading system, the centerpiece of Europe’s effort to cut greenhouse gases and a model for similar systems around the world.
The vote had taken on symbolic importance because the Parliament had shot down a similar proposal in April. That earlier vote meant the carbon trading system, which has been emulated globally as a way of using markets to curb greenhouse gases, was on life support.
The measure passed on Wednesday 344 to 311 after intense lobbying by the European Commission and some national governments. It also gained greater backing from liberal and socialist groups.