The system needs a fix, but national politics could get in the way.
Interest in cap and trade has waxed—not waned—after Trump’s decision to pull out of Paris.
EU carbon prices were already too low to work, and now they’re sliding even further.
The state’s carbon market is floundering, but that didn’t stop the legislature from moving to extend it.
A recent auction of carbon allowances generated just 2 percent of expected revenue.