overy”, a homily reinforced in the carbon market by the European Commission’s rather more prosaic statement that the European Union emissions trading scheme (EU ETS) is about “learning through doing.” This reflexive approach has been a mainstay in the development of carbon markets, all the way back to Activities Implemented Jointly. This issue of In the Market highlights some of the “bloopers” that have crossed the authors’ desks, and aims to open a few portals. For obvious reasons, the examples have been fictionalised. 1. ERPA Drafting