The global trade in carbon credits has taken off fairly well with the turnover going up from $11 billion in 2005 to $118 billion in 2008. Carbon markets investments planned have exceeded all expectations. But the resistance to the idea seems to be gathering steam with many in the developed countries pointing out procedural deficiencies and arguing that carbon trading will confer unfair advantages on companies in developing countries like China and India, the major sellers of carbon credit.
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