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Costs for businesses to rise as EU beefs up carbon-trading system

2014-01-08 21:30:00| Climate Ark Climate Change & Global Warming Newsfeed

Associated Press: It will become more expensive for businesses in the European Union to burn fossil fuels this year after the 28-country bloc decided Wednesday to beef up its carbon-trading system. The agreement ended a year of bickering over how to amend what is Europes prime tool in the fight against climate change and the worlds biggest emission-trading system. Under the cap-and-trade scheme, companies pay per ton of carbon dioxide they release into the atmosphere, with the pollution certificates traded on...

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