Fraud hits EU carbon emissions trading

The European Union faces legal action over fraudulent carbon emissions trading according to this article from the Guardian. Students on the short history of carbon emissions trading in the EU will know that the early years of emissions trading have been riddled with problems - not least the over-allocation of permits, a failure to establish proper auction systems, volatile and often low prices - but most serious of all the fraud that appears to be a widespread feature. This undermines the legitimacy of the system.