Lambrechts Francis
29/05/2007
Europe’s emissions trading scheme has been a success, in spite of the widely publicised problems in its first years of operation, a group of prominent environmental economists has concluded. The verdict was given in the journal Review of Environmental Economics and Policy…
The EU accounts for about 20 per cent of the world’s greenhouse gas emissions, and the scheme covers about half of the EU’s emissions…
But the scheme fell into chaos last spring when it was revealed that member states had issued more emissions allowances than were required…
But the economists said the persistently high price of carbon in the first year of the scheme was evidence that emissions were being reduced by companies. They estimated that companies had cut their emissions by about 7 per cent as a result.
( Support for EU carbon scheme By Fiona Harvey, http://www.ft.com/cms/s/8d96e53e-0d36-11dc-937a-000b5df10621.html )
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