Meltdown Looms For Europe's Carbon Trading Program: Approval for a 'backloading' fix won't come easily

摘要

Europe's greenhouse gas emissions trading scheme is near collapse, presenting the European Union with some tough choices. The Emissions Trading System (ETS) was the first, and is by far the largest, international framework for trading greenhouse gas emissions allowances. The fate of the ETS will be closely monitored in the United States. President Barack Obama is pressing Congress for global warming legislation and most plans to reduce greenhouse emissions include cap-and-trade programs like the ETS.