Global Carbon ETF Heats Up in Wake of Copenhagen
Thursday, December 24th, 2009ETF Database submits:
With the highly-anticipated Copenhagen conference now in the books, many are cheering steps towards drastic cuts and a coordinated response to global climate change. Some emerging markets are calling on rich countries to cut their emissions by 40% compared to 1990 levels, as well as making a personal call to President Obama to have the U.S. join the Kyoto Protocol.
All of these developments and calls for reform are sure to impact countries across the globe, but it will perhaps have the greatest impact on the carbon market in the EU, the only region with a developed carbon credit trading system. The market allows companies to buy credits in order to pay for carbon emissions that their firms produce. This money is then used to pay for more sustainable initiatives in clean power and industrial efficiency programs in order to limit greenhouse gas emissions as quickly and efficiently as possible.
