Friday, 26 August 2016
Last updated 11 min ago
Feb 4 2009 | 8:44am ET
The European Commission (EC) is calling for a global carbon trading market to help tackle climate change.
The commission says it want to link its Emissions Trading Scheme (ETS) to other carbon trading systems by 2015, and to include emerging economies by 2020.
The proposal will be discussed at a UN climate conference scheduled for Copenhagen in December. The commission sees the trading system as a successor to the 1997 Kyoto Protocol, which was not ratified by the world’s biggest per-capita polluter, the United States.
The EU’s ETS system for trading CO2 allowances, launched in 2005, covers heavy industry and large power plants and will gradually be expanded to cover more sectors.