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Emissions Pioneer Losing Clout as EU Ban Looms: Carbon & Climate

Thirteen years after the United Nations set up the first carbon emissions market, the global trading system’s influence is waning as it gives way to local and regional plans to combat climate change.

Fewer markets are accepting UN Certified Emissions Reductions, credits created from investment in carbon-reduction programs, as nations from China to California adopt their own standards. In Europe’s $54 billion market, where lawmakers are tackling a record glut, utilities and manufacturers from EON SE to ThyssenKrupp AG may reach the limit on the CERs they can use by March 2015, data from Bloomberg New Energy Finance show.