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Emissions trading

There’s a definite excitement surrounding European emissions trading this month, with players and policymakers alike anticipating bumper growth in 2005 now that legal obligations to limit emissions have been placed on Europe’s heaviest polluters.

Standing at the start line, however, it’s not easy to predict how this new market might behave. After all, its potential participants range from multinational oil and power companies to single-installation cement works, all with very different

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