| Sourced From Worldchanging.com |

In spite of what you may have heard, Europe’s carbon market is working beautifully. The EU’s Emissions Trading Scheme (ETS) has been operational since 2005 and we’re now getting a good look at how it functions. It turns out, it’s a remarkable success story, both environmentally and economically.

Let’s briefly review the major pieces of evidence.

1. European Environment Agency. A November 2009 report finds that the continent is well on its way to meeting its Kyoto targets thanks in large part to its cap-and-trade program. In fact, by 2007,14 countries had already exceeded their reduction goals, including the wealthy industrial giants of France, Germany, and the United Kingdom. To wit:

EU

Related posts:

1. Research and Markets: Analyzing the Carbon Emissions Trading in Europe
2. Europe Fails to Meet Greenhouse Emission Targets
3. European Union to change carbon trading program
4. China chastises U.S., Europe over greenhouse gases while Japan buys CO2 rights from…Latvia?
5. Taiwan’s environmental chief in Europe for talks on UNFCCC bid

Tags: Carbon Dioxide, Carbon Markets, Carbon Permits, ETS