The European Union claims the mantle of global leadership on climate change, yet its leaders have allowed the price of carbon in the EU’s Emissions Trading Scheme to collapse, owing to reckless over-supply of carbon credits. By contrast, South Korea has signaled that it will enforce a greenhouse-gas cap that is projected to push prices to 20 times the EU level by 2017 – and green-energy investment there is booming.
碳市场可以提供正确的化石燃料补贴，但它们没有这样做。欧盟号称是全球气候变化领头羊，但其领导人放任欧盟碳排交易机制（Emissions Trading Scheme）碳定价因为鲁莽的碳信用过度供给而崩溃。相反，韩国释放的信号表明它将强化温室气体上限，预计到2017年将碳排价格推高到欧盟水平的20倍，而韩国的绿色能源投资也迎来了繁荣。