EU lawmakers reject lead lawmaker's proposal to reform carbon market

European Parliament lawmakers on Wednesday voted to reject a proposal by the assembly's lead lawmaker to reform the European Union's carbon market, and send the policy back to a parliament committee to redraft it.

The vote thwarts an attempt on Wednesday to confirm the EU assembly's position for upcoming negotiations on the final carbon market reform, as lawmakers splintered over whether to strengthen or weaken the plans. Europe's carbon market is the EU's main policy for cutting the CO2 emissions causing climate change.