Twelve years after the EU launched the world’s first cap-and-trade system for greenhouse gases, the concept of emissions trading appears to be gaining currency around the world.
The latest to join the global roster of more than 40 carbon markets is that of the Canadian province of Ontario, which held its first permit auction in March. More than 25 million allowances were sold, raising more than C$457 million (US$345 million) for a scheme to assist businesses in adapting to a low-carbon future.
Other provinces are following Ontario’s...
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