IRAN PLANS EMISSIONS TRADING

Iran to set up carbon emissions trading market

February 16, 2014 (Reuters via Trade Arabia)

“Iran plans to set up a carbon trading market to reduce industrial emissions of climate-warming gas, an official from Iran's Fuel Conservation Organization (IFCO) told oil ministry news service Shana…[R]apidly rising domestic [oil and gas] demand has created a gas supply and vehicle pollution crisis in some cities…[H]eavy subsidisation of fossil fuels means there is little incentive for private investments in wind or solar…The European Union set up the world's first carbon emissions trading scheme in 2005…The EU's success [in cutting carbon emissions] has been limited because too many emissions allowances were issued, driving down the price of permits to levels that give little incentive to cut…A short but growing list of other countries - including China and India - are developing their own emissions trading schemes…[T]here is a growing sense around the Gulf that solar energy, in particular, could help dampen rapid fuel demand growth…” click here for more

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