EU Plan to Expand CO2 Market by 2015 Infeasible, Researcher Says

The European Union’s ambition to create a carbon market embracing 33 nations in the Organization for Economic Cooperation and Development within five years is infeasible, according to Climate Strategies.

“By 2015 an OECD-wide carbon market is not going to happen,” said Richard Folland, managing director at Climate Strategies, a group of climate policy specialists based at Cambridge University in the U.K. “But progress can be made toward harmonization over the longer term.”