He
made
the
comment
at
the
House
of
Commons
launch
this
week
of
UK
campaign
group
Sandbag’s
annual
report
on
environmental
prospects
for
the
ETS.
The
report,
Losing
the
lead?
Europe’s
flagging
carbon
market,
argues
that
the
European
Commission
(EC)
would
have
to
withdraw
3.1
billion
allowances
from
the
scheme
to
restore
the
price
of
carbon
to
a
level
where
it
could
“powerfully
revive
the
incentives
for
low-carbon
investment”.
The
estimate
is
more
than
twice
the
largest
number
the
EC
is
considering
temporarily
withdrawing
to
bolster
carbon…
