“Germany could escape carbon hole by investing abroad”
Bloomberg Technology
Bloomberg New Energy Finance says Germany could meet its 2020 emissions targets through carbon trading. Buying the right to pollute could allow Germany's domestic coal industry to keep operating, Bloomberg Technology reports, with carbon cuts elsewhere in the world contributing to Germany’s domestic targets. Japan, Norway and the EU already use this route, the article says, but so far Germany has said it wants to achieve the cuts at home. Bloomberg New Energy Finance says it would cost Germany 180 million euros to meet its 2020 target with UN credits created under the Kyoto protocol. “The value of those credits plunged 99 percent since 2008 because only a few countries have committed to use them,” it notes.
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