23 July 2009
Sandbag, an youngish and coolish climate NGO based in London, has launched a new report on the state-of-play in the EU ETS and why the system is not working as it should. An effective ETS is Sandbag’s raison d’etre, so it’s people tend to know what they are talking about.
Using the recently released 2008 emissions data set covering all installations in the system, Sandbag higlights the worst excesses over over allocation, CDM leakage, and unused new-entrant reserves, showing how these hot-air factors will, unless fixed, combine to result in little or no environmental effectiveness of the system out to at least 2015. Several solutions are also put, some requiring legislative changes, some not. All must be considered rapidly if Europe’s supposed climate leadership is not to stall any longer.
With the Commission bunkered down to defend a scheme that is plainly not delivering, other clear voices in the ETS debate, such at this one, are clearly very welcome.markjohnston