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Carbon-market pioneers revving up

They maintain that their market-based solution,  despite its stumbles, still offers the best way forward

China has been running pilot projects and plans to initiate a nationwide emissions-trading system as soon as 2017.

New York

TWO decades ago, Richard Sandor had a grand plan to reduce the pollution that causes global warming - and maybe get rich in the process.

The rich part worked. For the rest, reality intervened.

Today, Mr Sandor's vision of thriving global carbon-markets - capitalist