Britain to admit Kyoto refuseniks into carbon trading market
The UK’s Independent has a story Britain to admit Kyoto refuseniks into carbon trading market.
Confidence in the emerging market for carbon emission permits was given a double boost yesterday as the bank Morgan Stanley unveiled a [US]$3bn (£1.6bn) investment and the UK said it would enable companies from non-Kyoto signatory countries to trade through Britain.
Morgan Stanley said it planned to expand its carbon trading business through a $3 bn investment that includes projects related to reducing greenhouse gas emissions. The move marks a significant expansion of the bank’s existing carbon trading activities that it launched in 2004 within its commodities division.
We are following this news with some fascination. Carbon trading activity is on the march now, and the corporate world is all too happy to supersede refusenik governments like the US and Australia in the name of making money. And ultimately the benefits flow to real projects that reverse the root causes of human induced global warming. — DS
Technorati Tags: business, climate change, emissions trading, global warming, Kyoto Protocol, Morgan Stanley, politics
