Excerpt from: EHS Industry Solutions
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| July 03, 2008 | | Obama and McCain both support a cap-and-trade system. | Carbon trading was worth about $64 billion last year, with European nations contributing 78% of this total. What would happen if the U.S. got seriously involved? A global carbon market of $3000 billion by 2020. Thats serious business. Greenhouse gas software systems can help us manage it.
How would it get there? By setting up its own federal cap-and-trade system to limit carbon emissions. An international agreement that would follow up on the Kyoto treaty would also be required. The good news? Both Senator Obama and McCain support a cap-and-trade system.
On June 25, Bart Chilton, commissioner of the US Commodities Futures Trading organization said, " The potential size and scope of a structured carbon emissions market in the U.S. is unequivocally vast."
Carbon trading is a key part of the Kyoto Protocol. With this system, every company has a limit on what they can emit and whatever goes unused in their quota can be traded. Will the U.S. jump on board? Time will tell...
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