Europe might lead in political rhetoric about climate targets but its achievements tell another story. You don’t make effective policy by formulating targets on the basis of nice alliterations (20-20-20 by 2020). What is much more important is to see what is happening on the ground. Have companies changed technologies as a result of the EU’s emissions trading scheme? Hardly. Most of them have made big windfall profits but where are the investments in clean technologies?
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