Tuesday, May 31, 2005

Asian CO2 Exchange Ready to Launch

From China's The Standard via Eco-Portal, news that an Asian carbon exchange mechanism
will be established in Singapore this year, giving the region's fast-growing economies a forum for funding green technology.

CO2 credit derivatives are already trading on exchanges in Europe and in the United States, but the Singapore bourse - to be called ACX-Change - will offer the lure of access to emerging economies eager to finance infrastructure investment.

``Asia has huge potential as a sellers' market to meet increasing demand from [Western] buyers,'' said Kesava Shotam, chief executive of Asia Carbon International BV, Friday.

``Right now there are a lot of buyers and not enough sellers.''
As always, this should appeal to the "free-market" crowd, and I've yet to see serious reservations about carbon trading as a viable means of meeting Kyoto Protocal goals. I'm interested in the long-term potential for carbon trading, though -- is this just a way to get started reducing CO2 emissions? Is it primarily a way to prime the innovation pump to get us beyond fossil fuels?

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