19.10.2015 - No room for carbon trading in global climate treaty?
Carbon trading lobbyists say the mechanism is being given short shrift in the UNFCCC negotiations. But critics argue that carbon trading is a long way from providing a global solution to reducing emissions. The draft text of a global climate agreement to be finalized in Paris at the COP21 summit does little to promote carbon trading – a fact criticized by voices in favor of carbon trading as a valuable tool in reducing global carbon dioxide emissions. There are now around 50 carbon trading systems in operation around the world, covering 40 percent of the global economy. Last month, China announced that it will introduce a cap-and-trade scheme in 2017. That would overtake the European emissions trading system (EU ETS) – which is currently facing crisis and reform – as the world’s biggest carbon market...............................................Full Article: Source
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