Carbon trading
February 16, 2005
In an effort to curb carbon emissions, the concept of carbon trading is gaining prominence in Europe, though not without criticism. An article at NewScientist.com notes that ‘many analysts believe that carbon trading can help save the Kyoto protocol, because it will for the first time create a financial motive for industry to cut emissions’
Why should we care?
Emissions which are by-products of the burning of fossil fuels have been proven to contribute to global warming and poor air and water quality. Interestingly, with the rising costs of carbon-based fuels, the inevitability of ‘carbon caps’, and tougher greenhouse gas standards, industry is beginning to regulate itself. Case in point: Chicago Climate Exchange. With such moves, the market for alternative forms of power is getting a boost and has plenty of room for innovation, especially as the control of fossil-fuel production tightens.
