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Europe’s emissions trading muddle a setback to global environmental efforts

Posted on 02 May 2013

Europe’s reputation as a leader in climate change policy took another beating this month when the European Parliament rejected, by 334 votes to 315, a proposal to reform the EU Emissions Trading System (EU ETS). The vote leaves Europe’s carbon-trading market — the world’s largest — at risk of collapse and threatens to fragment and complicate efforts to tackle climate change on both sides of the Atlantic.
The EU ETS was set up in 2005 as a market-based alternative to reduce greenhouse gas emissions. It gave companies the choice of reducing their emissions or buying emission allowances from other companies………………………………………..Full Article: Source


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