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Brussels, Belgium (AHN) - The European Commission proposed a global carbon trading market to boost climate change measures being undertaken by different countries.
With the Kyoto Protocol set to expire in 2012, the European Union plans to expand its Emissions Trading Scheme by inviting other industrialized nations to join the ETS and linking it with other carbon trading systems by 2015. By 2020 the EC’s goal is to include in the ETS emerging economies like China and India.
A UN climate conference in Denmark on December will attempt to push for the global carbon market. Among the agenda of the summit will be for industrialized nations to help developing countries fund their greenhouse gas emission reduction programs.
EU Environment Commissioner Stavros Dimas told media, “Without a credible financial package, it’s clear that there will be no deal in Copenhagen: no money, no deal.”
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