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EU to approve change to emissions program

Posted on 10 December 2013

European Union lawmakers are set Tuesday to approve a long-sought fix to the bloc’s struggling system for trading carbon-emission rights as Germany and other nations have recently indicated support for the plan to make it more expensive to pollute.
The Emissions Trading System was designed to put a price on greenhouse-gas pollution by utilities as the bloc seeks to cut carbon-dioxide emissions by 20% by 2020 versus 1990. But because of an initial oversupply of the emission rights and Europe’s economic slowdown, a surplus of roughly two billion credits has sent their price to €4.50 ($6.17) per metric ton now from a high of nearly €30 per ton five years ago………………………………………..Full Article: Source


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