Carbon Markets Threatened If EU Backload Plan Fails, CEPS Says
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Europe will struggle to convince the rest of the world that carbon trading is the best way to tackle climate change if a plan to revive the price of the region’s permits fails, said the Centre for European Policy Studies.
The European Commission’s proposal to fix a glut of carbon allowances by restricting issuance must be approved, or market-based systems won’t be attractive to United Nations negotiators working on a new global climate-protection pact, Andrei Marcu, a Brussels-based adviser at CEPS, said in a Feb. 8 interview.