CO2 Market Hurt by Australia, Russia Policy, World Bank Says
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Efforts to put a value on greenhouse-gas emissions to contain global warming are being hurt as countries from Australia to Russia and Japan pull back from carbon-reduction commitments, according to the World Bank.
“While some nations are taking concrete steps forward on carbon pricing, recent developments in others are a setback,” the World Bank said in its State & Trends of Carbon Pricing 2014 report published today. Policy changes amount to “two steps forward, one step back,” it said.