SPIEGEL writes up the amazing countercyclical nature of emissions trading. Strangely, they seem to think it's a problem:
Such a low price is concerning for two reasons. On the one hand, it removes the incentive for companies to make improvements aimed at cutting back their greenhouse gas emissions. The idea behind the European Union Emission Trading Scheme is to create a financial disincentive to pollute. Analysts say that a price per ton of emissions of at least €20 is necessary before it becomes cost effective for companies to install environmentally friendly technology.Of course, if we didn't have emissions trading the story would be 'climate policy compounds economic disaster'.
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2 comments:
Your last sentence suggests that you have what it takes to become a (British) anti-EU blogger ;-)
I'm just snarking upon the absurdity of the situation, Ralf :-)
Obviously I would want things to be a lot different. But I saw this kind of reporting coming. It does have a point, but it's also pointless.
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