'Minuscule' CO2 savings expected from EU scheme

The EU's emissions trading scheme (EU ETS) is set to deliver no more than 0.3% carbon savings on total emissions in the current five year trading period, which ends in 2012, according to a new report by climate group Sandbag. The report warned that the EU's flagship instrument for reducing CO2 emissions could turn into a trap that commits the bloc into increasing rather than reducing emissions for most of the coming decade unless swiftly revised.The group's calculations show that ...

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