"Hot air" blows gaping hole in emissions trading scheme

The UK's pioneering greenhouse gas emissions trading scheme is now up and running, with 34 organisations taking on emission reduction targets at an auction held in March. However, there are early grounds for concern that the scheme will do much less than claimed to stimulate real emission reductions. Most notably, three major chemical companies - Ineos Fluor, Dupont and Rhodia - look set to win a huge windfall payment from the Government merely for bidding in emission targets which have already been met as a result of regulatory requirements.

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