Europe: Jury still out on EU ETS

FIGURES indicating that carbon emissions from European industry fell in 2008 will have raised the spirits of those championing the EU Emissions Trading Scheme (EU ETS). But it is too early to declare the scheme a success, given the distorting effect of lower emissions caused by reduced demand for power during the global economic slowdown. Preliminary European Commission data for the 85% of more than 12,000 installations registered in the EU ETS for which results had been included by publication in April indicated a fall in total emissions of more than 3%, after small rises in the previous two years. This sign that the EU ETS may be starting to have the desired effect will add momentum to the