TOKYO -- Prices for greenhouse gas emissions allowances have swelled this year as governments set increasingly ambitious goals to tackle climate change.
The cost of a permit to emit 1 ton of carbon dioxide under the European Union's cap-and-trade system has surged roughly 30% since the end of last year, fueling concerns about a financial burden on companies that risks reducing competitiveness. A similar program in Japan could cost businesses an estimated $24 billion a year.
