How does carbon trading work? Does it really help tackle climate change? Isn’t it all just smoke and mirrors? Is the Kyoto Protocol doing any good?
These and similar questions are increasingly being asked as the evidence for global warming mounts, scientists tell us more of dramatic climatic impacts we can expect, and pressure for measures to rein in greenhouse gas emissions heightens. At the same time, there are warnings from industry over the costs in jobs, profits and consumer prices that will stem from mandatory carbon trading regulation.