Carbon Market in 2008
The second phase of carbon trading is coming under way for the period 2008-2012 introducing tougher allocations of carbon credit: most countries will be given 10% less credits than in the first phase of the ETS.
This is a relief since the over-allocation in the first phase, but countries and companies alike are already complaining.
The Czech Republic, Hungary, Poland and Slovakia have all filed papers at the European Court of Justice claiming that second phase carbon caps imposed on them will damage economic growth. Several companies have also gone to court over their individual allocations.
Analysts predict prices for the second phase to be between €10 and €25, however this prediction could vary pending the court’s decisions on those who fight their tighter allocations.
Read the more extensive article from ClimateChangeCorp.com