To cope with the decline in the price of CO2 emission permits, the European Parliament wants to take 900 million tonnes off the European market. But that won’t be enough to halt the trend. The economic crisis is just too deep.
Pumping out CO2 ought to cost industry a tidy sum. That’s the whole idea of the EU’s emissions trading scheme. Today, however, the EU’s flagship instrument makes climate-wrecking cheap like never before. Time for Europe to grab the emergency brake.
Europe's best and most important tool for climate protection is, to put it drastically, threatened with collapse. For months now the certificates for carbon dioxide emissions have been plunging in value, which means it’s becoming cheaper and cheaper to pump greenhouse gases into the atmosphere. The principle of the emissions trading has been turned upside down: originally, an artificial scarcity of permits was meant to raise the price of emitting those harmful gases.
See full Article: http://www.presseurop.eu/en/content/article/3438091-tough-climate-carbon-trading
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