The UN climate summit opened on Monday 7 December with delegates from 192 countries gathering in Copenhagen to discuss a global treaty on climate change.
Key points have centred around the carbon emissions trading scheme and future plans to mitigate climate change.
The carbon emissions trading scheme imposes caps on the levels of pollutant an individual company is allowed to emit. Companies are then issued emission permits and are required to hold equivalent credits which are representative of the amount of emissions they are allowed to produce.
If a company needs to increase its allowance then they must purchase credits from another company that is polluting less, thus companies that pollute more are financially penalised while companies that pollute less are financially rewarded.
It’s a contentious issue, but one thing most agree on is that for any solution to work, a major geo-political agreement is required at the summit in Denmark.
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Updated: 11/12/09