2015 is a year of important decisions and it will affect all of us: At the climate conference in Paris, all big industrial countries must finally commit to binding climate targets. Also, it has been ten years since the Kyoto Protocol came into force. German broadcaster ARD has thought of a little quiz – how well do you know the agreement?
Let’s not forget about another anniversary: Ten years ago the first trading period of the ETS started with 22 € per certificate (or: per tonne of CO2) – an amazing price compared to the current price-level (6-8 €). The EU commission realised too late that the amount of certificates on the market was too high. During the economic crisis the market was flooded by even more certificates and today there is a huge surplus.
Next week the European Parliament’s Committee for Environment discusses the so-called market stability reserve. Will they agree upon a reform of the ETS? Can an altered regulation mechanism repair the broken system of demand and supply?
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