Economic crisis has left ETS 'thoroughly obsolete'

The economic crisis, which has shut down manufacturers, idled factories and left lorries and ships with fewer products to transport, has rendered the EU's flagship climate change policy, the emissions trading scheme "obsolete," according to fresh research out on Friday (10 September).

The recession has produced such a reduction in CO2 that companies across Europe have managed to pocket a slew of unused emissions permits which had been handed out based on economic forecasts produced befo...