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Europe’s politicians leave carbon market in coma

Politicians in Europe’s parliament today narrowly rejected a plan to revive prices on the region’s carbon market – the world’s largest – which have collapsed in the recession. The decision condemns the carbon-trading scheme to irrelevancy, at least in its current 2013-2020 incarnation, analysts said. Prices will stay far too low to spur the investment in low-carbon energy that was one of the scheme’s key goals when it was launched in 2005. 

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