Don't let the reckless City trade carbon | Andy Atkins
As the City recovers from one disaster, the next is on its way – but carbon trading will damage the planet, not just the economyYou couldn't make it up: in the middle of the most serious recession for decades, with banks bailed out with billions of pounds of taxpayers' money, the denizens of the City have sniffed out what they think is the next big money spinner: trading thin air. Of course, the traders aren't heckling over 50 tonnes here or there of bargain basement London smog or Somerset meadow fresh. It's carbon dioxide which is now big business – and could become even bigger if the government gets its way at the UN climate talks in Copenhagen this December.At talks happening this week in Barcelona – the last round of talks before Copenhagen – British negotiators are pushing hard for the expansion of the global carbon market as their...
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