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10 July 2015 – Report released by The Prince of Wales’s Corporate Leaders Group shows ETS has helped companies focus on carbon emissions reduction.

New report: 10 Years of Carbon Pricing in Europe: A business perspective

The Prince of Wales’s Corporate Leaders Group has released a new report that finds the existence of the EU Emission Trading System (ETS) has helped companies focus on carbon emissions reduction, and those companies that have shown leadership and recognised that the future is low carbon have been rewarded with declining costs, and a drive for creativity and innovation.

Jill Duggan, Senior Associate at Cambridge Institute for Sustainability Leadership and author of the report said: “Our findings highlight how far-sighted leaders have looked into the future, and seen the need for their business to take action on carbon – to maintain or increase market share. These companies have been rewarded with efficiencies, creative new business models and competitive advantage, even when there has been a low carbon price."

These efficiencies that companies are uncovering will maintain a downward pressure on the price. This will mean an ever tighter cap is required to maintain a carbon price that will drive the low carbon transformation in less progressive companies or in sectors where decarbonisation is most challenging.

Read the full report or executive summary within it.