The European Commission on Wednesday (25 July) announced short-term plans to bolster the carbon Emissions Trading Scheme, its flagship environment project undermined by rock bottom carbon prices.
The scheme, which allows companies to buy and trade pollution allowances, has suffered from an over-allocation of allowances compounded by the economic downturn and drop in manufacturing output.
In April carbon prices dropped to their lowest level - €5.99 - since trading started in 2005. ...
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