25.11.2011 - It's time for a carbon floor price-Gerard Wynn
The European Union's emissions trading scheme now needs rescuing, but only on new terms which better address its main aims and eradicate some of its failings, using a price floor. The scheme, launched in 2005, is at a cross-roads, as carbon prices plunge to record lows and the fact dawns on traders that there may be no strong recovery for more than a decade. The EU carbon market is now irrelevant as an environmental policy but a price floor would reverse that, and could deliver additional tens of billions of euros to member states through 2020 from extra auction revenues.............................................Full Article: Source
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