Sunday, August 4, 2013

Climate innovation debate: What’s the future for carbon trading systems, around the world?

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A focused panel of experts from business, academia and politics will consider how different regional carbon trading systems should be modified in order to enable them to effectively combat climate change. The debate, to be held on 24 September, is organised by Climate-KIC, which is part of the European Institute of Innovation and Technology (EIT).

The European Commission and Parliament have been struggling to find a solution to plunging carbon prices, with a compromise deal being struck only as recently as June and many publicly questioning the future of the system.
Advocates, however, have called for the success of carbon trading to be determined based on the level of carbon reduction, rather than the price of carbon. Research has been published to suggest that the market-based approach of Europe’s carbon trading system is still delivering results.

Meanwhile, international policy makers are looking to adopt local versions of Europe’s carbon trading system. Climate-KIC will now bring together a panel of experts to discuss the future of carbon trading, and its effect on long term climate change mitigation and adaption.

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