31 Mar '15, 2pm

Fix the EU Emissions Trading System, And Carbon Markets Can Be Serious Business

The answer is, they all have (or are part of) some form of carbon emissions trading scheme. No fewer than eight new cap-and-trade markets kicked off in 2013 alone, and there are national markets currently being planned in Brazil, Thailand and China. That is in addition to 12 countries around the world that have carbon taxes. All this suggests — contrary to what you might read in the generalist press — that there is fairly strong momentum worldwide toward carbon pricing . That does not mean a single global carbon price, but a system of carbon pricing nevertheless. On paper, emission trading is the most efficient way for policy-makers to reduce emissions and so tackle climate change — what economist Professor Ross Garnaut famously called our “diabolical policy problem.” Using the power of thousands of individual decision-makers, all trying to minimise their costs, carbon mar...

Full article: http://www.renewableenergyworld.com/rea/news/article/2015...

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