13.06.2013 - EU carbon market surplus squeezing climate goals
A surplus of Emissions Trading Scheme (ETS) carbon permits will require the European Union to cut emissions by an extra 7 percentage points to meet its 2030 climate goals, according to a report by environmental research company Ecofys. The report, the Next Step in Europeís Climate Action: Setting Targets for 2030, finds any future emissions reduction goals will have to take into account the effects of the current carbon permit surplus in the ETS, the largest global carbon market. The EUís emissions reductions should be around 49 percent compared to 1990 levels, Ecofys says in the report...............................................Full Article: Source
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