December 4, 2008

It's not easy being green

Members of the European Union are finding out that it is not that easy to implement any type of green-based regulations as what is happening with their Emissions Trading Scheme (ETS) and Electronic Recycling Law.

A report from ICIS News (subscription required) alerted the green blog that the US Government Accountability Office (GAO) - the US Congress' "detective" agency - released a study this week stating that the first phase (2005-2007) implementation of EU's ETS has currently minimal impact in lessening their greenhouse gas emission as well as driving clean technology investments, partly blamed by the the short time frame in the ETS implementation.

With the next US administration also looking to implement its own version of carbon emissions trading, GAO advices that based on the EU ETS experience, the Congress should consider [1] the importance of historic emissions data availability and reliability; [2] the need for long-term certainty to encourage investments in less-carbon-intensive technologies; and [3] the importance of the design and implementation of allocating carbon allowances, which will have significant economic effects.

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