Greg Sheridan’s claim that international carbon trading “lies halfway between a fantasy and a fraud” falls short of this requirement. Sheridan constructs his argument on an assertion by Canada’s Foreign Minister John Baird that there is no such thing as international carbon trading.
Yet this statement is demonstrably untrue. The World Bank’s 2011 report, State and Trends of the Carbon Market, shows that the international carbon market has grown from $US11 billion ($10.67bn) in 2005 to reach more than $US140bn in each of 2009 and 2010………………………………………..Full Article: Source