| A deal to claw back hundreds of millions of surplus allowances from Europe’s emissions trading system (ETS) has been hailed as a watershed by environmentalists, MEPs and renewable industry groups.
Nearly half of the continent’s emissions are covered by the ETS, the world’s largest carbon market, which sets a cap on CO2 output and forces firms to buy or sell allowances to stay within its boundaries. Recession and lavish handouts to industry have contributed to a glut of around 2bn allowances but a new market reserve will now start removing roughly the same amount from the market in 2019, as the Guardian reported in February...............................................Full Article: Source
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