Dow Says World Carbon Market Needs Less Intervention to Work
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The world’s first global carbon market will need less intervention by regulators to succeed, Dow Chemical Co. said.
Politicians must avoid earlier missteps in Europe that included bans on imported carbon credits and a temporary cut of permits to curb a glut, said Russel Mills, director of energy and climate policy at the biggest U.S. chemicals maker. Such interventions need to be avoided in a post 2020 worldwide market presented by the European Union on Sept. 29 because both nations with mandatory limits on carbon and those without need to sign up, he said.