The EU’s emissions trading system should be scrapped in its present form and replaced with a much fairer, less distorting system, according to this briefing paper from Feasta’s Climate and Energy working group. The paper lists twelve reasons why the scheme is misconceived and proposes that, instead of emissions permits for 45% of the EU’s greenhouse emissions, currently worth €170 billion a year, being given free to 11,500 giant companies, permits for 100% of the emissions should give given on an equal per capita basis to every EU resident.
by Nicola Creighton
This year was a ‘review year’ at the 14th session of the UN Commission for Sustainable Development in New York, but there was nonetheless an unstated core topic, both at the official and the side events: energy, with a recurrent focus on energy access for developing countries. FEASTA’s focus at CSD was on gaining support for a substantial review of the EU’s deeply flawed Emissions Trading Scheme (EU ETS).
“Is a cross-party consensus on climate change possible – or desirable?”
A cross-party consensus on climate change is possible provided the parties agree to work from the same point of departure. A consensus is also highly desirable because of the radical steps that will have to be taken to respond adequately to the seriousness of the problem.
The text of this submission is included below, or download a PDF Version.
This groundbreaking book, published in late 2003 by Feasta, describes the challenge presented by depletion of oil and other non-renewable energy sources. Its authors conclude that renewables have the capacity to provide the people of Europe with all the energy they need to live comfortable lives without using coal or nuclear energy at all, provided that enough time and energy are devoted to beginning the switchover within the next few years.