EU environmental commissioner Stavros Dimas attributes the drop to the 6.5% reduction in available allowances for the scheme’s ‘phase two’, which runs from 2008-2012. The number will be narrowed significantly further for the third trading period, set to kick off in 2013 and run until 2020.
“The 2008 reduction was partly due to businesses taking measures to cut their emissions in response to the strong carbon price that prevailed until the economic downturn started,” Dimas says.
“It
