18. Title: Comment Visions (online) + European Voice print edition Headline: Commentary based on EU 2050 Energy roadmap statement Date: 12/09/2011
19. Title: Bloomberg Headline: EU Must Take Swift Action to Halt CO2 Price Slump: Shell Headline: 04/10/2011 Europe must take “urgent action” to prevent further declines in carbon prices that could undermine the region’s goal to cut greenhouse gases and boost investment in green technologies, according to Royal Dutch Shell Plc.
taken very quickly,” Sweeney, who is also a chairman of the Zero Emissions Platform, told Bloomberg News during the group’s general assembly in Brussels today. “Otherwise the value of carbon in the system will not be high enough to sustain the roadmap or the changes that are planned.”
The best tool to “restore the credibility and the effectiveness” of the European Union emissions trading system, or the ETS, is to withhold some carbon permits in the next phase of the program starting in 2013, said Graeme Sweeney, Shell’s vice president of Future Fuels and CO2. Permits for December in the world’s biggest carbon market fell as much as 2.6 percent today, dropping below 10 euros for the first time since February 2009.
ZEP includes utilities, fuel companies, equipment suppliers, scientists and environmental groups supporting the technology to capture and store carbon dioxide, known as CCS. Companies investing in CCS and renewable energy are eyeing EU aid from the planned sale of up to 300 million carbon permits.
“It seems that the most effective action would be a setaside of allowances in Phase 3 and that action should be
The European Commission was seeking earlier this year member states’ recognition of its carbon roadmap, which shows the most cost-effective way to reduce greenhouse gases would be to lower discharges by 40 percent from 1990 levels in 2030 and by 60 percent in 2040. At a 33