| More than 75 environmental organizations on Monday urged the European Parliament to end the European Union's Emissions Trading Scheme, launched seven years ago as a market-oriented way of reducing pollution and greenhouse gases.
The parliament is due to vote Tuesday on a plan by the European Commission to overhaul the ETS with the aim of reversing the trend that has seen the price of carbon permits plummet 75 percent in the last five years. Instead of reducing discharges of CO2, the ETS has "diverted attention from the need to transform the system's dependency on fossil fuels and growing consumption, resulting in increased emissions," according to Joanna Cabello of Carbon Trade Watch...............................................Full Article: Source
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