Analyst says carbon market would work here

canada.com (Sep 8 2010) Cap and Trade , Carbon Tax , Emissions , Fossil Fuel

1. The cap-and-trade system of reining in greenhouse gas emissions is working in Europe and would work in Canada as well, says a London-based carbon trading research analyst.Trevor Sikorski, in Calgary to give a presentation at a conference today sponsored by U.K. investment bank Barclays Capital, said his company has traded four billion tonnes of carbon since the European Union decision to proceed in 2004. That's more than any other. The bank has three full-time traders who do nothing but trade carbon, he said. The European system caps maximum overall greenhouse gas emissions but allows emitting industries that exceed their limits to buy carbon "allowances" from companies that have a surplus because they've reduced their emissions. The allowances are traded like any other commodity. (Read Full Article)

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