The EU emissions trading system, Europe’s flagship climate policy, has largely failed to act as a key driver for low-carbon investment in the installations it regulates, an EU report has found.
Low-carbon action by ETS-regulated firms has mostly been driven by a desire to cut energy and raw material costs, with the ETS playing at most a secondary role, consultants told the European Commission.
A Commission spokeswoman said the aim of the study was to increase the Commission's understanding of the drivers for low-carbon investments, and of the impact of the ETS in this process.
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