Trading system for carbon emissions faces collapse

A trading scheme for developed nations to meet greenhouse gas emission reduction commitments while subsidising new emission reduction projects in developing countries is on the verge of breakdown, according to a global energy think tank.

Weak demand from Europe for emission credits saw only half of the scheme's one billion tonnes of approved credits bought, with the other half waiting for buyers, said Joan MacNaughton, the London-based World Energy Council's executive chair of energy and climate policy assessment.

via Business feed http://www.scmp.com/business/china-business/article/1045303/trading-system-carbon-emissions-faces-collapse