The development of a successful global carbon trading market that delivers real and cost-efficient greenhouse gas emission reductions will require an improved market infrastructure, according to a report issued today by The Bank of New York Mellon entitled, “Towards a Common Carbon Currency: Exploring the Prospects for Integrated Global Carbon Markets.”

The report — prepared in conjunction with Point Carbon, a world-leading provider of market intelligence, forecasting and advisory services for the energy and environmental markets — finds that for a global carbon trading market to allocate capital to the lowest cost carbon reduction projects worldwide it must be based on standardization, liquidity, transparency and predictability. …. Full Press Release: Source