EU’s carbon allocation scheme and Scandinavia’s carbon taxes have not reduced greenhouse gas emissions

Posted: 29 Jun 2012 09:03 AM PDT

The European Union implemented a cap and trade scheme in 2005 to help it fulfil its obligations under the first phase of the Kyoto Protocol for reducing carbon emissions. The Scandinavian nations had independently imposed a carbon tax in the 1990s as part of their effort to reduce carbon emissions. US researchers have tracked the carbon disclosures from both regions of Europe and found that neither the EU’s carbon allocation scheme nor Scandinavia’s carbon taxes have made any significant impact on reducing greenhouse gas emissions.