We are on the cusp of a new industrial revolution, one driven by energy and climate security concerns. Policy-makers and business leaders are beginning to calibrate decisions on trade, financing and production planning against this new reality. Central to making this vision work is enlightened thinking around the potential economic and political benefits–rather than the costs–of the transition to a low-carbon future.
Emissions trading is central to the European Union's (EU) strategy to meet its climate change commitments under the Kyoto Protocol. However, implementing the EU Directive on emissions trading ('the Directive') is proving extremely challenging for the governments involved. In particular, governments have to prepare National Allocation Plans (NAPs) for distributing emissions allowances to industry within a very tight timeframe. More than 12,000 industrial installations across the EU and accession countries will participate in the trading system.
Topic:
Climate Change, Markets, and Treaties and Agreements