Emission trading "no good without targets"

EU carbon trading scheme will not cut emissions unless backed by long-term targets, says consultancy

The EU's industrial emission trading scheme will not help the bloc reduce greenhouse gases unless governments agree to emission reduction targets extending at least 15 years into the future, according to a consultancy report.

UK firm Enviros says that the generosity of national allocation plans (Naps) drafted by EU member states for the period 2005-7 means that the early market price of carbon in the trading scheme will peak at €5 per tonne.

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