Posts Tagged ‘Climate Action’

Politics and Cap&Trade.

July 17, 2010

I have just found an article on Renewable Energy Focus website that explains which countries are interested on increase the target to reduce the greenhouses reduction for 2020. On one hand, we have countries (Spain, Germany, Sweden) which want to achieve the target of reduction to 30% below 1990 emissions. Others, like the UK, Portugal, Austria or France that want to keep the 20% approved in the past years. And finally, countries such as Italy, Denmark, and Belgium which their interests are different and they want to reduce that demanding target.

The position of each country must be directly related to the “Cap and Trade” regulatory system. This program allows to the manufacturers of gases linked to global warning to “trade” pollution permits, or allowances among themselves. It is important to point out that the European Union Emission Trading System is currently the largest functioning Cap and Trade system for greenhouse gases in the world (the permits generate an industry of $140 billion per year).