The thing to understand about the 12-day UN meeting on climate change starting in Copenhagen today, is it's not an environmental conference. It's an economic mugging.
Montreal Exchange plans to launch carbon trading on May 30Policing the carbon credits will be the responsibility of the government of Canada, through a registry to keep track of the credits, and a body that will have the authority to audit the credits, Bertrand said.
While trading activity on the Montreal climate exchange is expected to be small initially, Bertrand pointed out that carbon trading in Europe has grown into the billions of dollars.
CCX is a cap and trade system whose Members make a legally binding emission reduction commitment. Members are allocated annual emission allowances in accordance with their emissions Baseline and the CCX Emission Reduction Schedule. Members who reduce beyond their targets have surplus allowances to sell or bank; those who do not meet the targets comply by purchasing CCX Carbon Financial Instrument® (CFI®) contracts.
Anyone remember Enron?
Copenhagen Will Fail Inconvient Truth