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Germany's Merkel calls global emission trading system

2015-05-16 17:01:00| Climate Ark Climate Change & Global Warming Newsfeed

Reuters: German Chancellor Angela Merkel called on Saturday for the European Union's Emissions Trading System (ETS), the bloc's flagship policy to cut greenhouse gas emissions, to become a global system. Thousands of power plants, factories and airlines in Europe have to surrender an allowance for every tonne of heat-trapping gas emitted. However, a surplus of allowances has depressed their price on the ETS and has made it cheaper to burn coal than to switch to greener fuels. "This instrument would...

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