EU plans in global context

At the centre of the EU’s efforts to tackle global warming lies the European Union Greenhouse Gas Emissions Trading Scheme. It will affect more than 12,000 industrial plants in Europe and is the most ambitious project of its kind in the world, although similar projects have been launched in other countries. The UK Government’s contribution sees it pledging to slash emissions of the greenhouse gas carbon dioxide by 20% by the end of the decade.
US think-tank Pew Center on Global Climate Change says this approach is the “policy of choice” for addressing climate change. In the US, initiatives already exist, including the Global Climate Exchange and a project in Massachusetts to cut pollution from power plants. Japan’s Ministry of Economy, Trade & Industry has created a scheme that will allow firms to trade carbon dioxide rights.