Experts call for new targets
Professor Michael Grubb of Cambridge University, a leading environmental economist, has joined the many calls for new carbon emissions targets if the ETS cap-and-trade scheme is to work, according to this BBC report. Certainly, the current low price levels of emissions rights indicate that buyers think there will be plenty spare emissions capacity.
“Professor Grubb also warned that the European market for carbon risked being undermined by a number of countries.
He described as “laughable” some of the national emission quotas being proposed for the second phase of the European Emissions Trading Scheme (ETS).”