New study: no hit to profits from EU carbon scheme

Warnings that the EU's emissions trading system (ETS) would harm Europe's economic competitiveness have been proven to be exaggerated, according to a new paper published on Thursday (6 December) by the Organisation for Economic Co-operation and Development (OECD).

The authors wrote that between 2005 and 2012 the ETS led to a 10 percent reduction of greenhouse gas emissions, "but had no negative impact on the economic performance of regulated firms".

"These results demonstrate that...