Emissions scheme effective but 'poor value for money', says PAC.

Reports that the British government's Emissions Trading Scheme has led to reductions in greenhouse gas emissions but has not provided value for money, according to the Commons' Public Accounts Committee. Introduction of the scheme to help meet government commitments under the 1997 Kyoto "clean air" Protocol; Department for Environment, Food and Rural Affairs' use of baselines based on the participants average emissions between 1998 and 2000.