Australian natural wonders such as the Great Barrier Reef are already being damaged, and the risk of coastal flooding could double by the end of the century.
Warmist alarmist Sir Nicholas Stern made the same claim:
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Fears grow over Commission’s ability to support emissions trading
By Mark Nicholls,
Environmental Finance
There are growing concerns that the European Commission is either unwilling or unable to support a robust carbon market – risking low and volatile carbon prices, or at worse the complete collapse of the market.
Last week, the carbon market went into a nosedive following the publication of a proposed energy efficiency directive that threatens to dampen demand for EU allowances (EUAs) – and therefore carbon prices. The directive was the latest in a series of bearish signals for the market, which contributed to, at its worst, a low of €11.71 ($16.87) on Monday from above €17 in early May.
On Monday, Jos Delbeke, director-general of the Commission’s Climate Action directorate, put out a statement asserting that the carbon market “continues to take the central role” in a “cost-effective mix of instruments that reinforce each other”.
