E&E Publishing | By Debra Kahn, | Link to article
SAN FRANCISCO — Depressed carbon markets in the European Union underscore the need for a globally linked trading scheme, including California’s first-in-the-U.S. economywide cap-and-trade program, a top international climate official said yesterday.
The European Parliament’s rejection of a plan to fix a heavily oversupplied emissions trading program has led to a “dark night” among participants, said Christiana Figueres, executive secretary of the U.N. Framework Convention on Climate Change, at a carbon conference in San Francisco.
“The environment, the carbon world environment in which California inserts itself, is not as optimistic as California,” she said, unspooling an extended metaphor invoking the conference’s theme of “Navigating the American Carbon World.”