Dateline - The Cost of Carbon Trading

This week Video Journalist Nick Lazaredes travels to Europe, to examine the highly contentious issue of carbon trading. Kevin Rudd wants a similar system here - so how are the Europeans faring in this attempt to reduce carbon emissions? VIDEO: The Carbon Trade YOUR SAY: Will carbon trading really work? In Belgium, politicians are debating changes to their Carbon Emissions Scheme, but environmentalists warn that Europe's solution to global warming is turning into a farce. Carbon trading is a process where companies can trade their unused carbon credits for a tidy profit. However this process allows heavy polluters to continue to damage the environment, as they buy up carbon credits from other companies. Climate change activists say EU's climate scheme isn't credible and are worried it could have disastrous impacts around the world if other countries choose to implement it.