London leading the way on carbon trading

The report, Carbon Markets & Emissions Trading, also revealed that the volume of carbon dioxide emissions transacted worldwide doubled in 2006 to the equivalent of 1,636 million tonnes. Of this, one-third were project-based transactions – investment in products which can reduce CO2 emissions ­­­- and two-thirds of transactions were allowance-based - companies achieve an environmental target through a cap and trade system. According to the report, the EU Exchange Trading System (EU ETS) has dominated activity in allowance-based markets and London is central to the EU scheme. European Clim...