Dismay at low EU carbon price

The record low price of carbon on the EU’s trading system earlier this week has been received with dismay by a British carbon management firm. On Monday the price fell below 4.8 euros in the early hours of the morning before springing back up to 5 euros later in the afternoon. The oversupply of permits […]

Carbon trading markets are ‘policy of choice’

Carbon trading markets are the “policy of choice” for cutting emissions around the world, according to a new report released today by the International Emissions Trading Association (IETA). This is despite “continued inaction” from the US Congress on climate legislation and “pressing need for reform” in the European Union’s Emissions Trading Scheme (ETS), said the […]

World Bank sets up carbon trading fund for developing countries

Developing countries which want to set up carbon trading schemes are to get financial and technical support from the Wold Bank. World Bank group president Robert B. Zoellick announced the initiative, called the Partnership for Market Readiness, at the UN Framework Convention on Climate Change conference in Cancun yesterday. But it was straight away criticised […]

Australia shelves emissions trading scheme

Australian Prime Minister Kevin Rudd has shelved the country’s Emissions Trading Scheme until 2013. The ETS is a cap and trade scheme under which the government would calculate the total amount of pollution that could be emitted by businesses each year. Each business would then be given a permit with a fixed amount of emissions. […]