Gallery: Europe’s Carbon Market Failures Expose Flaws in the Cap and Tr...

 

There once was a time when cap and trade plans looked like our best hope for limiting carbon emissions. But recent fluctuations in the European carbon market seem to indicate trouble in paradise. The prices of carbon allowances — necessary for any company that plans to produce more emissions than allotted — have dropped down to 10% of what they were once worth. While that’s bad news for investors, it also gives polluters a cheap way to continue polluting as usual.

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