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EU Emissions Trading System Destined to Fail

The EU Emissions Trading System (ETS) has failed to cut carbon emissions and will continue to fail when the new phase is launched in 2013, according to a new briefing published by Carbon Trade Watch and Corporate Europe Observatory.

Emissions Trading is the European Union’s flagship measure for tackling climate change, and it is failing badly. In theory, it provides a cheap and efficient means to limit greenhouse gas reductions within an ever-tightening cap, but in practice, it has rewarded major polluters with windfall profits, while undermining efforts to reduce pollution and achieve a more equitable and sustainable economy.

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