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ContentsEditorial note 2Chapter 1 Introduction – A new fossil fuel crisis 5Chapter 2 ‘Made in the USA’ – A short history of carbon trading 31Chapter 3 Lessons unlearned – Pollution trading’s failures 71Property rights and privatisation 73Emissions trading vs. structural change 101The special problems of carbon projects 137Where’s the enforcement? 187Narrowing the discussion 190Summing up – Market ideology vs. climate action 198Chapter 4 Offsets – The fossil economy’s new arena of conflict 219The beginnings – A story from Guatemala 222From the Netherlands to the Andes – A tale from Ecuador 226The story continues – Carbon forestry in Uganda 237Costa Rica – ‘Environmental services’ pioneer 247India – A taste of the future 254Sri Lanka – A ‘clean energy’ project that was not so clean 272Thailand – Biomass in the service of the coal and gas economy 280South Africa – Carbon credits from the cities 287Brazil – Handouts for repression as usual 302Photo Essay Plantar vs. local people – Two versions of history 309Chapter 5 Ways forward 329Appendix The Durban Declaration on carbon trading 356

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