Drifting Toward Disaster is Sandbag’s 5th Annual Environmental Outlook for the EU, reviewing how the scheme has performed across the whole of its second trading phase. The report finds that the Emissions Trading Scheme stands to deliver less than zero net emissions reductions over 2008-2020, and is cancelling out abatement from other policies in the climate package to count against its future climate pledges. It encourages policymakers to agree a backloading decision as a stepping stone to structural reforms which increase the ambition of Europe’s 2020 targets and its forthcoming pledges in the international climate negotiations.
Read Damien’s summary for Point Carbon here
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