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EU, Australia Agree to Link Emissions Trading Systems

1:18 PM MDT | August 28, 2012 | Ian Young

The European Union (EU) and Australia have agreed to link their emissions trading systems (ETS). Greg Combet, Australia's minister for climate change and energy efficiency; and Connie Hedegaard, European commissioner for climate action, announced the agreement today. A full two-way link, by means of the mutual recognition of carbon units between the EU and Australian cap-and-trade systems, is due to begin no later than July 1, 2018. Businesses will be allowed to use carbon units from the Australian ETS or the EU ETS for compliance under either system, under the...

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