More than a decade after it was created, the European Union’s Emissions Trading Scheme (EU ETS) is finally starting to bite and will start to accelerate the closure of old coal-fired power plants across Europe as soon as 2021, new analysis shows.

Research from Carbon Tracker, a financial think tank that seeks to promote a climate-secure global energy market by aligning capital markets with climate reality, suggests that EU carbon prices could reach an average of €35-€40 per tonne in the 2019-2023 period, speeding up a switch from less efficient and more polluting coal plants to cleaner gas-fired facilities and reducing greenhouse gas emissions.

Read more at: Forbes

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