Emissions Trade Booming Despite Hague Failure
LONDON (Reuters) - The growth of emissions trading will not be derailed by the breakdown of the Hague talks on climate change last week, an advisor to the European Union on the subject told Reuters on Thursday.
Carbon Dioxide (CO2) emissions trading will become the main route for reducing greenhouse gases because it remains the cheapest and most efficient method, said Neil Cohn, principal at energy brokerage company Natsource.
"It sounds like an odd scheme, but it's the only one that can incentivise companies to cut emissions because there's a value attached to them -- that should stimulate them to find creative ways to cut emissions," said Cohn, who also advises the Dutch government on emissions trading.
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