EU commissioner admits ETS problems
Looks like the EU environmental commissioner Stravos Dimas has admitted what we’ve known for a while - the EU ETS scheme as it currently stands will not reduce emissions - see Vox Polis’ view here and here. Dimas said that the scheme could become “pointless”. Unfortunately it already is.
The only way to get this to work is to take the allocation out of the hands of member states and allow the markets to allocate them (i.e. through auctioning).
October 30th, 2006 at 5:48 pm
[…] There’s an article in yesterday’s Sunday Telegraph which highlights the ways people are making money out of climate change, called “Guilt-edged profits”- as if this in itself is a bad thing. Personally i have no problem of people making money if the scheme works- unfortunately many of them don’t reduce the problem- offsetting and the ETS don’t work. […]
March 13th, 2007 at 8:14 pm
[…] be that they can achieve their targets solely by extending the emissions trading scheme (err…presumably in a form that works) to cover more companies and by soft measures (loft insulation grants etc.) for the rest of us. I […]