Carbon Trading Gets Serious in Europe
Financial Times, 25 May 2005 - Hedge funds, attracted by rising carbon prices, have started to invest in the fledgling market in greenhouse gas emissions.
Carbon prices have been rising sharply since the European emissions trading scheme was launched at the start of this year, reaching a record closing price of Euros 19 a tonne yesterday.
The emissions trading scheme limits the amount of carbon dioxide that can be emitted by industries such as power generation, and is intended to reduce greenhouse gas emissions, which cause climate change, by gradually reducing the amount of CO industries may produce. Companies that use less than their allowance can sell their excess permits.
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