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Reply #3: The EU "is the largest multi-national, greenhouse gas emissions trading scheme in the world". [View All]

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pampango Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jun-30-11 05:28 AM
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3. The EU "is the largest multi-national, greenhouse gas emissions trading scheme in the world".
http://en.wikipedia.org/wiki/Emissions_trading#European...

"It is one of the EU's central policy instruments to meet their cap set in the Kyoto Protocol (Jones et al.., 2007, p. 64).

After voluntary trials in the UK and Denmark, Phase I commenced operation in January 2005 with all 15 (now 25 of the 27) member states of the European Union participating. The program caps the amount of carbon dioxide that can be emitted from large installations with a net heat supply in excess of 20 MW, such as power plants and carbon intensive factories...

For Phase II, the cap is expected to result in an emissions reduction in 2010 of about 2.4% compared to expected emissions without the cap (business-as-usual emissions) (Jones et al.., 2007, p. 64). For Phase III (201320), the European Commission has proposed a number of changes, including:

the setting an overall EU cap, with allowances then allocated to EU members;
tighter limits on the use of offsets;
unlimiting banking of allowances between Phases II and III;
and a move from allowances to auctioning.

In January 2008 Norway, Iceland, and Lichtenstein, joined the European Union Emissions Trading System (EU ETS) according to a publication from the European Commission."

If the EU accepts it as viable climate change policy and republicans all seem to rail against it, cap-and-trade must have something to say for it.

From the OP:

Conservatives have defeated national cap-and-trade proposals in Congress. The California challenge, however, comes from grassroots environmental justice groups, which argue that companies that buy the right to exceed emission limits will also spew more conventional pollutants on nearby communities, mostly poor and nonwhite.

Their lawsuit accused the air board of giving short shrift to alternatives, such as strict, non-tradable limits on greenhouse-gas emissions and a tax on gasoline and other carbon-containing fuels. Most mainstream environmental groups support cap and trade and have stayed out of the suit.
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