Still a Chance for Recovery?

摘要

As a result of recent studies, pessimism is prevailing among climate activists worldwide. In the European Union, the vaunted Emissions Trading System does not perform as well as expected at its launch. The price for an allowance, the right to emit one metric ton of CO_2, is below five euros. A price of around 20 euros is necessary to offer an incentive to companies to invest in energy efficient technologies. With allowances at such a low price, running an old coal-fired power plant is more profitable than a modern eco-friendly gas-based power station.