Emissions trading

It is generally not a good idea to develop climate policy with the banks, whether its with a few of them or with them all. However, this was the essence of a debate which took place recently concerning a meeting scheduled between a high-level official from DG Clima and the carbon traders lobby, the International Emissions Trading Association (IETA). Peter Zapfel, a key man at the Commission responsible for the Emissions Trading System (ETS), the EU flagship climate policy, had scheduled a private briefing with IETA to discuss the Commission's planned measures to boost carbon prices. Zapfel cancelled the briefing with IETA after the information about the meeting was leaked to the media and other traders reacted with anger.