| Despite turmoil in the EU ETS, the notion of emissions trading is continuing to gain ground, Richard Sandor, the chairman of Environmental Financial Products, said. Fixing the European Union Emissions Trading System (ETS) has been a long, hard slog. Following its launch in 2005, strong prices for EU Allowances (EUAs) boosted the scheme's ability to secure reductions in harmful greenhouse gas emissions.
But after the financial crisis, Europe's economic woes sent prices for EUAs spiralling downwards. Having traded at as much as €30 ($41) per tonne during 2006, the price of EUAs sank to under €3/tonne during 2013 – far lower than the level analysts say is needed to fuel investment in cleaner energy...............................................Full Article: Source
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