Expiration of Kyoto Would Mean Little for CO2 Markets, EU Says
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The possible expiration of the Kyoto Protocol in 2012 would mean “very little” for carbon markets because they are driven by national targets, a senior European Union official said.
The EU, which runs the world’s biggest carbon cap-and-trade program, may need a “reflection” on the 1997 global agreement after some developed countries said they won’t commit to future limits under the treaty starting in 2013, said Jos Delbeke, director general for climate at the European Commission.