2011-06-28 Update from Europe: a carbon market in progress
While the US and Canada are revisiting their federal commitments to taking action on climate change, the European Union (EU) has had a price on carbon since 2005 and carbon markets are a central tool in meeting its reduction targets. The EU Emissions Trading Scheme (EU ETS), is the world’s largest cap & trade system, with over 12,000 facilities and a wide range of sources included. Now in its second compliance period, the trading program is not just alive and kicking, but expanding the number of countries and sources covered. For instance, starting in 2012, emissions from aviation will be capped under the scheme, including emissions from US and Canadian carriers flying into and out of European airports. The trading system is working well, but has had its ups and down and lessons have been learned along the way. Even so, the EU ETS continues with active trading.
This webinar will feature key policymakers from the European Commission’s Carbon Markets and Climate Change programs providing an update on the EU’s progress toward meeting their Kyoto targets, how the carbon market is working, why and how the scheme is evolving, and lessons for North America.