• News:
• Losing the lead? Europe's flagging carbon market: The 2012 environmental environmental outlook for the EU ETS (PDF, Sandbag, July 2012). We argue that the inadequate ambition of the cap now finds the ETS failing its chief purpose of delivering cost-effective emissions reductions. The leniency of the cap out to 2020 will oblige Europe to shoulder steeper reductions later on if it is to reach its stated long-term climate targets. It also risks locking investment into high-carbon infrastructure that will make these steep reductions even more expensive.
  
• Emissions trading scheme could be oversupplied until 2024 (Business Green, 2012-06-12). Analysts say a surfeit of the credits, used by around 12,000 installations to comply with EU ETS rules, has resulted in a dramatic fall in the price of carbon, which has lost about 60 per cent of its value over the last 12 months with prices dropping to below €7 a tonne.
• Overview: What is carbon trading? (Daily Telegraph, 2011-01-30). The practice of carbon trading has been fraught with problems.
• Emissions are not falling:
• EU emissions trading scheme on course to make tiny savings, says report , The Guardian, 2010-09-10). 
• EU Emissions Trading System: failing at the third attempt (PDF, Corporate Europe Observatory, April 2011).
  
• However, "The European Commission ... says that despite the dash for coal in Germany, the carbon trading scheme remains successful overall, with a fall in CO₂ emissions in 2009 of 11 per cent across the EU compared with 2008." (see Germany's coal own goal over carbon permits, New Scientist, 2011-02-24).
• Vulnerability to fraud:
• 2011:
  
• European carbon market suspended over fraud fears (Daily Telegraph, 2011-01-19).
• EU says 2 million emissions permits missing after theft (Wall Street Journal, 2011-01-20).
• Cyber-theft halts EU emissions trading (Financial Times, 2011-01-19).
• Hacking theft forces EU to suspend carbon registries (Bloomberg Business Week, 2011-01-19).
• 2009:
  
• Copenhagen climate summit: carbon trading fraudsters in Europe pocket €5bn (Daily Telegraph, 2009-12-10).
• Copenhagen summit: Denmark rushes in laws to stop carbon trading scam (The Guardian, 2009-12-03).
• Over-allocation of allowances and giving them away for nothing: 
• Europe's top industrial firms have a cache of 240m pollution permits (The Guardian, 2011-06-19).
• Carbon credits bring Lakshmi Mittal £1bn bonanza (The Times, 2009-12-06).
• Perverse incentives:
• Germany's coal own goal over carbon permits (New Scientist, 2011-02-24). Perverse incentives have led to the building of new coal-fired power stations in Germany.
• Updated: EU bans industrial gas carbon credits (Business Green, 2011-01-21).
• 
  
• Unfair competition and leakage: EU carbon trading windfalls under fire from Lord Turner (Daily Telegraph, 2010-03-03).
• Import emissions: 
• Openness urged on UK's emissions (BBC News, 2010-09-03). "Robert Watson says that if emissions 'embedded' in imported goods are counted, UK emissions are up, not down. ... Prof Watson accepts that it will be hard to find a different metric than the current system."
• The UK must own up to the full scale of its emissions problem (The Guardian, 2011-02-08).
• The price of allowances is far too low. The overall effect of these problems, especially over-allocation of allowances and giving them away for nothing, is that the price of allowances is still much too low.

Mexico

• California and Quebec near an agreement for trading of carbon permits (New York Times, 2012-05-09).

South Korea

• California and Quebec near an agreement for trading of carbon permits (New York Times, 2012-05-09).

USA

California

• California and Quebec near an agreement for trading of carbon permits (New York Times, 2012-05-09).