Emissions Trading is not working

If there was ever any real indication of the failure of the use of market mechanism in an attempt to reduce carbon dioxide emissions it is the news that carbon emission brokers have been laid off in large numbers by their broking firms. The recession has cut the amount of emissions being created, rather than measures, and the artificiality of carbon markets has left, in these circumstances a surfeit of carbon saving instruments on the market with very few buyers. Continue reading