Carbon Markets 94% Cheaper Than Renewable Support, OECD Says

Carbon markets reduce greenhouse gas emissions nearly 17 times more cheaply than paying power generators renewable energy subsidies, according to new analysis of 15 nations by the Organization for Economic Cooperation and Development (OECD).

"Subsidies wind up in the pockets of the rich," Anthony Cox, head of the OECD's climate division, said in an interview in London.  "Direct prices, such as emissions trading systems and taxes, are often a more cost-effective way to cut carbon."

Carbon Markets 94% Cheaper Than Renewable Support, OECD Says