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International carbon trading could slash the cost of cutting greenhouse gas emissions by 70 per cent, according to a report commissioned by the UK government.
A dollar invested in an international emissions market can reduce 40 to 50 per cent more carbon than a similar amount invested only in reductions, in part because cutting emissions in developing countries is often cheaper than in rich nations.
Mark Lazarowicz, the MP responsible for the report said: “The evidence shows that global carbon trading can deliver substantial cuts in greenhouse gases rapidly and cost-effectively.”
Fiona Harvey, London
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