Posted on 02/15/2022 10:24:53 AM PST by Right Wing Vegan
Poland has urged the European Union to introduce "control mechanisms" to the bloc's carbon market and curb financial speculators' participation in the scheme, the Polish government said on Tuesday.
Polish climate minister Anna Moskwa met EU climate policy chief Frans Timmermans in Brussels on Monday to discuss Brussels' plans to overhaul its carbon market.
European Union policymakers are preparing to negotiate a major reform of its core policy tool for curbing emissions - the emissions trading system (ETS), which requires power plants and industry to buy CO2 "allowances" to cover each tonne of CO2 they release.
The ETS is designed to have a gradually shrinking supply of permits, which trade on exchanges like other assets. Their price soared by around 150% last year and hit a record high of 98.49 euros ($112) per tonne this month. The benchmark carbon price was around 91 euros a tonne on Tuesday.
Poland relies on coal for more than 70% of its power and has long argued that EU climate policies must take into account such energy mix makes reaching the climate targets more costly than for other EU members.
However, other countries see higher CO2 prices as an essential incentive for companies to invest in the green technologies needed for the EU to meet a goal of cutting emissions by 55% from 1990 levels by 2030. Aside from climate policy, Warsaw has been at odds with the EU over judicial reforms and the rule of law, rights of minority groups and media freedom. read more
Poland last week sent Brussels its demands concerning the ETS and has built a coalition of countries that also want to reform the trading system, Warsaw said in a statement.
(Excerpt) Read more at reuters.com ...
Carbon markets are purely political entities, established only by power of the state. As such, they will be controlled by the insiders and the largest banks, working with politicians to game rules.
Its guaranteed crony-capitalism and corruption.
Carbon markets and their values are even more fiat than the fiat currency we use in the US!
Both are completely, 100%, totally made-up values that are only valid because some idiots said there were - PERIOD!
Poland is telling the EU to quit charging a jizya tax just to stay warm.
Joe Biden claims he will reduce gasoline prices, which would result in greater CO2 emissions.
A scam ‘market’ is a poor substitute for rational taxation.
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