Carbon Trade Seen Losing Globally in Aussie Vote: Energy Markets

Australia is at risk of breaching a global agreement to cut greenhouse gases as power markets signal Prime Minister Tony Abbott will exploit the widest election victory in nine years to repeal the nation’s carbon system.

Europe Rejects Bid to Raise Cost of Carbon Emissions

LONDON — The European Parliament narrowly rejected an effort to raise companies’ costs of emitting greenhouse gases, a potential death blow to Europe’s world-leading effort to combat climate change.