Cap and Trade Works in Europe. Don’t Screw It Up
There’s a brighter outlook.
Photographer: Dominic Lipsinski/Bloomberg
Few policies have done more to combat climate change than the European Union’s emissions trading system. By putting a price on carbon dioxide — currently about €70 per metric ton — it has given companies throughout the bloc a powerful incentive to invest in going green.
Europe’s leaders should stand by it — and improve it — rather than bowing to industry pressure to walk away from it.