Understanding industrial reality is a necessity
The ETS is functioning as intended, it is not “dying a slow, painful death” as previously suggested.
Appeared in print on 21.02.2013
The article “Turning point for ETS” (14-20 February) gives cause to remind everybody what the emissions-trading system (ETS) is meant to be. The scheme is supposed to be a cost-effective, market-based instrument to reduce emissions from industry by 21% by 2020. The objective is to reduce CO2 emissions, not to create a high carbon price. Current prices for emissions allowances reflect the economic situation and will go up again once European industry has returned to growth. The ETS is functioning as intended. It is not “dying a slow, painful death” as the article suggests.