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15 Dec 2009
Support for a global carbon tax or carbon trading scheme for the aviation and shipping industry is gaining widespread support at Copenhagen.
If an agreement is reached the money generated could be used towards a £100bn "climate aid" fund, to help developing nations deal with the effects of global warming reported The Times. It is estimated either a tax or carbon trading scheme could raise a quarter of the climate aid fund.
The aviation industry is due to be included in the European Emissions Trading Scheme (ETS) in 2012 with the shipping industry so far excluded.
The Times reported the UK government would prefer a carbon trading scheme to a tax, with the Tories keen to penalise polluters rather than dip into the public purse.
Global leaders at Copenhagen will have to agree an international reduction in emissions and the level of financial aid for developing nations, before announcing how to raise the finance.
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