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EU emissions trading scheme ’set to cancel out renewable energy gains’

Posted on 26 June 2013

Huge oversupply of carbon pollution permits will cancel out efforts made in other areas to cut carbon, study finds. Deep problems in Europe’s carbon trading scheme – its flagship climate change policy – are set to cancel out over 700m tonnes of emissions saved through renewable energy and energy efficiency efforts, according to a new report.
The study, by carbon trading thinktank Sandbag, found that a huge oversupply of carbon pollution permits means many are being banked to enable emissions after 2020, when efforts to tackle global warming should be intensifying. These emissions, nearly equivalent to Germany’s annual carbon pollution, will cancel out efforts made in other areas to cut carbon………………………………………..Full Article: Source


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