Europe Plans Eco-Cities, But Who's Going to Pay for it?

You have to give Europeans a gold star for effort. First, they set up the world’s largest cap-and-trade carbon system back in 2005, and will extend it to more sectors — including airlines — in 2011. Then, they unilaterally sign up to a 20% reduction in CO2 output by 2020 (based on 1990 levels). And if other countries follow suit, the EU will raise that to a 30% cut by the end of the next decade.

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