NYT: Carbon trading was meant to reduce greenhouse gas emissions in EU…But even supporters admit that system, also known as cap and trade, is falling far short of that goal’
'Critics decry it as just another form of financial profiteering with little environmental benefit. Carbon traders, for example, have been arrested for tax fraud; evidence has emerged of lucrative projects that may do nothing to curb climate change; and steel and cement companies have booked huge profits selling surplus permits they received for free'
