Sure, why not? We started the day with a post on Vancouver as carbon capital du Canada.
Montreal Exchange Inc. (TSX:MXX) said Friday it has filed for regulatory approval of rules governing trading of futures contracts on Canadian carbon dioxide emission credits.
This follows the market's July announcement of a plan to launch the Montreal Climate Exchange carbon futures contract in a joint venture with the Chicago Climate Exchange....
The Montreal Gazette goes into more detail:
Climate exchange faces major challenges
The Montreal Exchange is the subject of much discussion about a possible merger with the TSX Group.
The issue is whether the two exchanges would be better off combining their trading activities, given the global consolidation now underway in the exchange business.
But while the ME decides whether or not to go it alone, it faces a more immediate challenge: getting its climate exchange up and running.The ME is making a substantial bet on its climate exchange platform, and is now seeking the necessary regulatory approvals.n partnership with the Chicago Climate Exchange, the ME plans to offer electronic trading for carbon futures contracts, based on underlying credits for greenhouse gas reductions.
Participation would be voluntary, but those who join will be bound by rules. Companies that have invested to reduce their carbon footprint could then sell their credits to others.
Based on a cap-and-trade system, the idea is to give corporations a financial incentive to act.
But there are many questions hanging over the project. Much will depend on what kind of emission reduction targets, if any, are established by the federal government.
The irony here is that the Harper government is walking away from the Kyoto Accord at just the time the ME is launching its venture....MORE