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Global carbon market hopes fade as Australia dumps CO2 trading

Posted on 21 July 2014

The goal of a global carbon market to tackle climate change, once touted to reach $2 trillion (Dh7.3 trillion) by 2020, received a major setback when Australia on Thursday scrapped its planned carbon trading scheme, which would have been the world’s third biggest.
Australia’s Emissions Trading Scheme (ETS) was to have started in 2015 and linked with the world’s biggest market in Europe — the first direct connection between major emissions trading schemes and a test case for possible links between schemes emerging in China and planned in Japan and the United States………………………………………..Full Article: Source


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