| Bloc to create market-stability reserve in effort to stabilize price of emitting carbon dioxide. The European Union agreed Tuesday to create a stabilization mechanism for its emissions-trading system in an effort to push up the cost of releasing carbon dioxide into the air and encourage investment in low-carbon technologies.
The EU’s cap-and-trade system for CO2 emissions has been undermined by a severe drop in prices in recent years, partly because of the decline in industrial activity amid the economic crisis and an over-allocation of emission allowances when the word’s first carbon market was set up in 2005...............................................Full Article: Source
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