In December of last year, the world’s attention turned to Copenhagen as the UN convened the 15th conference of parties (COP15) involved in the Framework Convention on Climate Change, a gathering of leaders and officials from nearly 200 countries focused on drawing up a long-term roadmap to tackle climate change. The first commitment period of the Kyoto Protocol, the international agreement under which Europe’s emissions trading scheme was established, is set to end in 2012. Designing a new