But more than a decade of emissions trading in Europe paints a complex, problem-ridden picture of politics and market failure. Learning from EuropeCap and trade, also known as emissions trading, incentivizes reductions by making businesses pay for their emissions — the more they emit, the more they pay. It's a very clear sign that the way emissions trading is working now, it's not bringing emissions reductions." "The caps we set were a hell of a lot easier to meet than we thought," says Grubb, who teaches international energy and climate change policy. Emissions trading internationallyCOP 21 saw emissions trading put back on the global agenda after being discredited due to the ETS's failures and the collapse of COP 15 negotiations in Copenhagen, according to Grubb.

Source: CBC News September 26, 2016 13:10 UTC