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Wednesday, 01 February 2012

Cap and trade approach: "worse than ineffectual"

According to a briefing note published by FERN, which is a non-governmental organisation (NGO) and a Dutch Stichting created to keep track of the European Union’s involvement in forests and coordinate NGO activities at the European level, the favoured policy approach of cap and trade  has proved worse than ineffectual.
FERN claims that the European Investment Bank (EIB) continues to fund a counter-productive and highly damaging policy of support for carbon trading through carbon funds, totalling over half a billion euros.
The briefing, which is based on a report published by the organisations Counter Balance and Campagna per la riforma della banca mondiale (CRBM),   provides an overview of the publicly documented involvement of the European Investment Bank (EIB) in support of failing carbon markets.

*Cap and trade: Cap and trade is one method for regulating and ultimately reducing the amount of pollution emitted into the atmosphere.

Source: FERN

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