Today’s Solutions: April 08, 2025

The European Union in 2005 decided to put a cap on CO2 emitted by more than 11,000 large factories, power plants and other companies. Within the cap, companies receive or buy emission allowances which they can trade with one another. Back then, it was widely considered a key tool in combatting climate change. It was the first large greenhouse gas emissions trading scheme in the world and remains the biggest. But the financial crisis that struck the EU in 2009, together with caps that critics said were far too low, caused the market to be flooded with surplus carbon allowances. The European Parliament on Wednesday approved a proposal to begin reform of the market. The proposal allows for storing surplus carbon allowances. Now that this proposal can become law, the carbon trading scheme can hopefully once again act as a major driver of investment in clean technologies and low-carbon solutions.

Solutions News Source Print this article
More of Today's Solutions

Colombia sets precedent to protect uncontacted Indigenous communities and bio...

BY THE OPTIMIST DAILY EDITORIAL TEAM In a landmark decision, Colombia created its first officially recognized territory dedicated to safeguarding Indigenous peoples living in ...

Read More

Effective stress management: trade in the ‘fight or flight’ response for ‘ten...

BY THE OPTIMIST DAILY EDITORIAL TEAM When we experience stress, most of us are familiar with the fight-or-flight response. Our bodies prepare to face ...

Read More

3 ways to get the most benefits out of your daily walk

During the pandemic, walking has become many people's new workout? With fitness facilities closed, people got a little more creative with how to stay ...

Read More

New York Governor protects transgender youth’s right to transition-related care

New York Governor Kathy Hochul took an important step toward preserving the rights of transgender adolescents on Sunday, June 25th, by signing legislation to ...

Read More