Swiss lower house of parliament votes to join EU ETS
07 December 2018 | Trading
The lower house of the Swiss parliament – the National Council – voted late on Monday for the country to join the EU ETS.
A majority of 116 out of 200 members in the council voted in favour of the draft bill, while an additional proposal in the draft to block the construction of further fossil-fired plants passed by one vote. The approval of the upper house is still required.
The country aimed to become a member of the ETS in 2020.
Switzerland currently has its own emissions trading scheme with very limited volumes. The latest auction settled at EUR 4.54/t, while the Dec 18 EUA contract as trading at around EUR 20/t.
Negotiations between Brussels and Bern regarding ETS entry began in 2011 and were concluded in January 2016.
Source: Montel News