The Corporate Europe Observatory have released “The ETS Files” series. The Emissions Trading System (ETS), the world’s largest carbon market, has tried and failed on a number of occasions to lower gereenhouse gas emissions. The ETS Files will study the progress of emissions trading reforms, ensuring EU climate policy serves their interests.
The ETS is supposed to cap greenhouse gas emissions from the power stations, factories and flights covered by the scheme by making it expensive to pollute beyond this limit. But the world’s largest carbon market has consistently failed to reduce greenhouse gas emissions. Despite this, the latest attempt to reincarnate the scheme would extend it until at least 2030.
The ETS Files will explain the key issues and debunk the myths surrounding the revision of the Emissions Trading Directive, identifying the key corporate actors and the influence they hold. Today we explain the basics and look at what’s at stake in the process.
Corporate Europe Observatory is encouraging readers to contribute to the series by sending tips [email protected]