15 Mar '12, 5am

@TonyAbbottMHR EU ministers are trying to increase their Price of Carbon, our CEF Package is superior #auspol #climate

At the end of last week EU environment ministers met to discuss how to fix the EU’s emissions trading system (ETS) by raising the price of carbon. Zoë Casey, EWEA blog editor, spoke to Rémi Gruet, EWEA’s senior regulatory affairs advisor on climate change, to discover just what the ETS does and why the EU needs a higher carbon price. What is the emissions trading system? The ETS is a kind of market that puts a price on carbon emissions. Big polluters – mainly the power sector – are legally required to limit their carbon emissions. If they emit less than their limit they can sell carbon ‘permits’ on the market, and if they emit more they can buy carbon ‘permits’. What’s the problem with it today? The carbon emission limits were set before the economic crisis. Because of the crisis, big industry is producing less and so emissions have gone down, making the carbon limit set a...

Full article: http://www.renewableenergyworld.com/rea/blog/post/2012/03...

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