CO2 - Ten Years of Emission Trading: Does It Work?
EU ETS, the main instrument for climate policy in Europe is now ten years old; by default it will continue well beyond 2020. It remains a controversial mechanism, where some of the criticism is well-founded, some less so. While overall Europe is on track to meet its climate target of 20% CO2 reduction by 2020, it is debatable how much of the success should be attributed to the EU ETS.
The ongoing intense negotiations on whether or not to intervene in the carbon market has made it a proxy for the general climate debate in Europe, putting coal hungry Poland against environmentalist North-Western Europe.
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