Cross-posted from Sightline's Daily Score blog. Europe's Emission Trading Scheme (ETS) cap-and-trade system has taken a somewhat undeserved drubbing in the press. Overall, it has functioned reliably and reasonably efficiently. Most of the alleged "Carbon Fraud!" you hear about in some quarters was really just easily fixable design flaws (like an initial over-allocation of allowances); tax payment scams that were wholly unrelated to the integrity of the carbon-reduction program (like the recent value-added tax scam); or a lousy offset program that is a potentially serious flaw, but that is also fixable as well as a threat to any carbon reduction plan. But the latest revelation …
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Eric de Place
Eric de Place is a senior researcher at Sightline Institute, a Seattle-based sustainability think tank.