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Analysts suggest companies are flooding the market by cashing in their emissions allowances to raise money, rather than for any environmental benefit.
The EU Emissions Trading Scheme (EU ETS) was set up as a market mechanism to help companies reduce carbon emissions. Polluters are granted a certain number of emissions allowances that can be traded. So a heavy polluter can buy carbon allowances from a company that has succeeded in reducing its emissions.
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on Jan 30th, 2009
@ 11:32 am:
[...] Union has formulated a framework for expanding the EU Emissions Trading System into a global carbon market, according to a draft EU strategy paper reported on [...]