{"id":1440,"date":"2005-07-12T10:52:00","date_gmt":"2005-07-12T10:52:00","guid":{"rendered":"http:\/\/sustainablog.greenoptions.com\/2005\/07\/12\/brc-47-european-carbon-market-growing\/"},"modified":"2005-07-12T10:52:00","modified_gmt":"2005-07-12T10:52:00","slug":"brc-47-european-carbon-market-growing","status":"publish","type":"post","link":"https:\/\/sustainablog.org\/articles\/brc-47-european-carbon-market-growing\/","title":{"rendered":"BRC 47: European Carbon Market Growing"},"content":{"rendered":"<p>From the Economist via the <a href=\"http:\/\/www.env-econ.net\/2005\/07\/an_update_on_th.html\">Environmental Economics blog<\/a>, <a href=\"http:\/\/www.economist.com\/agenda\/displayStory.cfm?story_id=4146710\">some good news and some challenges<\/a> that have emerged as Europe&#8217;s carbon emissions allowance market has matured.  The good: <\/p>\n<blockquote><p>The price of traded carbon-dioxide emission allowances in Europe\u2014permits to pollute, if you like\u2014has increased fourfold since January, touching \u20ac29.35 ($34.90) on Monday July 4th, a record.<\/p>\n<p>The amounts involved are small\u2014less than 1m tonnes a day, on the exchanges\u2014compared with the 2.2 billion tonnes a year in European permits issued. But they have grown surprisingly quickly since Europe launched its emissions-trading system for carbon dioxide\u2014the biggest of the Kyoto treaty\u2019s six greenhouse gases\u2014in January.<\/p><\/blockquote>\n<p>But challenges remain ahead, including the rising price of oil (which mean more coal-burning in Europe, which may overly-inflate emissions credits), the US&#8217;s refusal to play along, and China and India&#8217;s exemption from Kyoto obligations.  The essays final column seems almost prophetic now that the G8 summit is over:<\/p>\n<blockquote><p>What can possibly come out of Gleneagles on climate change? Not much, in all honesty: especially after the high-testosterone charge of Live8, most attention will probably be given to the easier issue of aid for Africa. What could be agreed, however, is an unglamorous but necessary commitment to work for a common set of fundamentals\u2014an assertion, as Andrei Marcu, president of the International Emissions Trading Association in Geneva, puts it, \u201cof the political will to make countries around the world develop basic building blocks in parallel so that in future there is enough commonality to converge.\u201d Easier said than done.<\/p><\/blockquote>\n<p>Technorati tags: <a href=\"http:\/\/technorati.com\/tag\/Europe\" rel=\"tag\">Europe<\/a>, <a href=\"http:\/\/technorati.com\/tag\/carbon+emissions\" rel=\"tag\">carbon emissions<\/a>, <a href=\"http:\/\/technorati.com\/tag\/markets\" rel=\"tag\">markets<\/a><\/p>\n<p><a href=\"https:\/\/dnbweb1.blackbaud.com\/OPXDONATE\/AddDonor.asp?cguid=5E9B2F65%2D59C6%2D4DC2%2D9D1E%2D7516C933F263&amp;sTarget=https%3A%2F%2Fdnbweb1%2Eblackbaud%2Ecom%2FOPXDONATE%2FDonate%2Easp%3Fcguid%3D5E9B2F65%252D59C6%252D4DC2%252D9D1E%252D7516C933F263%26dpid%3D2437&amp;sid=CFEEB4CE%2DBC16%2D4EF8%2DB7D4%2DBF96DC123F9F\">Make Your Donation to the Missouri Botanical Garden&#8217;s Earthways Center.<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>From the Economist via the Environmental Economics blog, some good news and some challenges that have emerged as Europe&#8217;s carbon emissions allowance market has matured. The good: The price of&nbsp;[ &hellip; ]<\/p>\n","protected":false},"author":56,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>BRC 47: European Carbon Market Growing &#8226; Sustainablog<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/sustainablog.org\/articles\/brc-47-european-carbon-market-growing\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"BRC 47: European Carbon Market Growing &#8226; Sustainablog\" \/>\n<meta property=\"og:description\" content=\"From the Economist via the Environmental Economics blog, some good news and some challenges that have emerged as Europe&#8217;s carbon emissions allowance market has matured. 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