The project aims to establish cell-phone based carbon micro-credit systems, using a simple message service to allow families to monetize the carbon offsets they produce.

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Also included are extensions for wind and solar energy tax credits, incentives for carbon sequestration projects and a credit for owners of plug-in electric vehicles.

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First unveiled in 2005, EU-ETS requires aircraft operators flying within EU airspace to participate in a carbon credit trading program.

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Evolution has taken a 15% stake in a new carbon-trading venture called Green Exchange, a joint venture with Nymex and rivals, including Credit Suisse and JPmorgan Chase.

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