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Despite Bumpy Start, EU Carbon Market Shows the Way

May 15, 2006

The European Union market for permits to emit carbon dioxide has gyrated in past weeks as it became clear that national governments gamed the initial permit allocation and officials bumbled release of data on actual emissions. These bumps notwithstanding, David Roodman writes, the EU carbon market is a pioneering model for what the whole world must do to combat climate change.

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