04.03.2014 - European Union carbon trading fix goes into effect
Next week, the EU's fix to its flagging cap-and-trade program finally goes into effect. For years, the European Union's Emissions Trading System (cap-and-trade) has been under attack because the supply versus demand for pollution permits was so out of whack. The program is the EU's signature and pioneering way to meet its climate change targets: 20% lower emissions from 1990 levels by 2020. Because emissions were down during the recession and permits were initially given out for free, there has been way more supply than demand. As a result, the cost to emit one ton of carbon dropped as low as EUR 2.41 last year, providing little incentive to lower emissions...............................................Full Article: Source
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