Outright fraud has plagued emissions markets, whether it's Anne Sholtz building a Ponzi scheme out of smog allowances in Los Angeles or European cheats charging extra for carbon allowances under the guise of collecting a tax and then disappearing with the proceeds.
The European Environmental Markets, a new spot trading platform for European Union Emissions Trading System participants, is betting the problems that have plagued the granddaddy of carbon trading programs are a thing of the past.