Sandor optimistic about carbon, despite EU ETS woes

Emissions prices are the wrong metric of success, he argues

Richard Sandor, Environmental Financial Products

Fixing the European Union Emissions Trading System (ETS) has been a long, hard slog. Following its launch in 2005, strong prices for EU Allowances (EUAs) boosted the scheme's ability to secure reductions in harmful greenhouse gas emissions. But after the financial crisis, Europe's economic woes sent prices for EUAs spiralling downwards. Having traded at as much as €30 ($41) per tonne during 2006, the price of EUAs sank to under €3/tonne during 2013 – far lower than the level analysts say is need