The
ETS
was
designed
to
deliver
a
carbon
price
that
would
drive
Europe
towards
a
cleaner
economy,
but
huge
oversupply
has
seen
the
price
of
allowances
plumb
record
lows
of
around
€6
($7.64)
or
less
this
April,
compared
to
€17
a
year
earlier.
Hedegaard
admits:
“Our
carbon
market
is
delivering
emissions
reductions,
but
because
of
the
oversupply
in
the
market,
the
ETS
is
not
driving
up
green
technologies
and
energy
efficiency
strongly
enough.”
The
European
Commission
(EC)
plans
to
cut
by
900
million
the
number
of
allowances
to
be
auctioned
in
the
ETS's…
