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
second
phase,
which
ends
this
year.
These
will
instead
be
introduced
in
the
latter
part
of
the
third
phase
of
the
ETS,
which
will
run
up
to
2020.
The
so-called
‘backloading’
means
fewer
allowances
will
be
offered
in
auctions
in
the
short
term,
while…
