At a time when many are adopting the narrative that carbon markets are faltering, the European Union (EU) is aggressively pursuing the expansion of theirs to include aviation. One of only two mandatory greenhouse gas (GHG) cap-and-trade systems in the world, the EU Emissions Trading Scheme (ETS) plans to fold in a
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EU ETS
Late in January, cyberthieves stole about 30 million euros’ worth of carbon allowances from several national registries of the European Union’s Emissions Trading Scheme (ETS). As a result, EU carbon offset trading, “a cornerstone of the European Union’s policy to combat climate change,” according to the ETS site, has been shut down for over a week.