Europe’s carbon trading scheme faces fresh tribulations after new data shows a record number of offsets have been surrendered into the oversupplied system. The policy which is supposed to limit the greenhouse gas emissions from power stations, factories and airlines set the five year cap for 2008-2012 644 million tonnes higher than emissions over that period. The new data finds just over a billion [1] offsets have been surrendered into the scheme over that time, bringing the total surpluses in the period to a staggering 1.7 billion, equivalent to almost a year’s worth of spare allowances.