| If you ask a carbon trader when there will be a single, efficient, international price on carbon dioxide emissions, s/he may reply, "How patient are you?" Over 40 carbon trading markets exist worldwide (commonly referenced in the US as "cap and trade"), but they are separate, fragmented, and collectively inefficient, and a singular international market, as exists at least de facto for a range of other commodities, may be decades away.
However, the Paris agreement expected next week may get us one baby step closer. "Having Paris allow for cooperative approaches and these internationally transferred mitigation outcomes (ITMOS) is an important first step," said Katie Sullivan, North America director for the carbon market trade association, the International Emissions Trading Association (IETA)...............................................Full Article: Source |