Wednesday, October 24, 2007

Swapping Carbon on the NYSE

Condé Nast's has some thoughts on the Euronext/CPC announcement.

Will the U.S. join the carbon cap-and-trade party soon? The NYSE Euronext announced earlier this week that it plans to launch a market for trading CO2 credits early next year. The exchange is partnering with the French bank Caisse des Depots, who will be the exchange's main shareholder. The NYSE Euronext will be the majority owner of the yet-to-be named venture.
...But there is currently no U.S. federal legislation on capping and trading greenhouse gases, as there is in Europe and, more recently, in Australia. But the involvement of the NYSE in this nascent market could push the discussion to the forefront as the presidential race narrows next year.