While the consensus of the scientific community ( via the IPCC ) is that action must be taken to avert the worst impacts of climate change , economic arguments about the cost of climate change abatement -- advanced by countries like the U.S. and at one time Australia -- Carbon trading is considered to be one way to reduce greenhouse gas emissions . Existing carbon trading systems have had limited impact on emissions to date . The European Union serves as a good example for new trading systems .
Carbon trading is considered to be one way to reduce greenhouse gas emissions . Existing carbon trading systems have had limited impact on emissions to date . The European Union serves as a good example for new trading systems .