| Last Thursday, the New York Times detailed the European Union’s most recent efforts to strengthen its carbon-emissions trading system: EU officials voted last week to reduce the number of carbon allowances in the system, a welcomed step for the world’s most ambitious carbon market to drive even more significant reductions than it has already achieved.
Fewer allowances will increase the price of permits, which in turn will drive companies to take emissions into account in their energy investment decisions. Thursday’s vote brought a rise in prices of approximately 7% reaching about €6.60 ($9). However, the New York Times reported, that price is still far below where analysts say it needs to be to have an impact on the EU’s energy choices...............................................Full Article: Source |