Photo Gallery: A Complicated and Expensive System
Foto: Patrick Pleul/ picture-alliance/ dpa/dpaweb
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Photo Gallery: A Complicated and Expensive System

Dealing in Hot Air The Pitfalls of Europe's New Emissions Trading System

The next stage in the world's CO2 emissions-trading scheme will begin in two years. Everyone agrees that the rulebook is complicated and that the costs for industry will be enormous. But nobody knows if the system will really help the environment -- or merely create a burdensome bureaucracy.
Translated from the German by Christopher Sultan
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