EU Begins Trading Carbon

The member nations of the European Union (EU) have begun trading the right to emit carbon dioxide (CO ₂), a global-warming gas and the chief culprit in climate change. The Emissions Trading Directive, begun in a pilot phase on January 1, 2005, was planned as a keystone in the EU’s bid to comply with the Kyoto Protocol. Industry critics complain that the plan will curb Europe’s competitiveness on the world stage; meanwhile, key environmental organizations claim that industry lobbying has undermined the trading scheme.
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