Cap and trade is mandatory in the EU for large corporations. They must participate. And guess what, it is successful. Unlike in the US where a a timid little voluntary cap and trade system was tried and predictably failed, the EU system has demonstrably lowered emissions and increased the use of clean, renewable energy.
More wind power capacity was installed [there] last year than any other electricity-generating technology. What’s more, new wind capacity replaced fossil energy.
In 2009 Europe actually decommissioned more coal, nuclear and gas plants than it built.
A whopping 61% of all new power generating capacity added in 2009 was renewable energy
This shows what can happen when governments genuinely support clean energy.
I think 40% of new energy capacity added in the US last year was renewable. If not exactly 40%, it’s definitely close to that. So by what standards is cap and trade working in Europe?
Because carbon emissions there are apparently dropping.