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New plans try to revive carbon trading

Post Time:May 25,2010Classify:Industry NewsView:137

Carbon trading was meant to reduce greenhouse gas emissions in the European Union by making polluting more expensive for heavy industries, encouraging them to invest in cleaner technology. But even supporters admit that the system, also known as cap and trade, is falling far short of that goal. Critics decry it as just another form of financial profiteering with little environmental benefit.

Carbon traders, for example, have been arrested for tax fraud; evidence has emerged of lucrative projects that may do nothing to curb climate change; and steel and cement companies have booked huge profits selling surplus permits they received for free, according to a May 24 article in The New York Times

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Source: http://www.glassmagazine.com/news-item/commercial/new-plans-try-revive-carbon-trading123Author:

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