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Carbon Market Gap More Likely Than Not, Ieta's Derwent Says
2010-12-09 23:29:59.144 GMT
By Mathew Carr
Dec. 9 (Bloomberg) -- The International Emissions Trading
Association said there would more likely than not be a gap in
carbon market demand after 2012 as United Nations envoys
struggle to overcome differences at climate talks in Cancun,
Mexico.
"The chances of us having a gap are greater than the
chances of us not having a gap," Henry Derwent, president of
the Geneva lobby group that favors cap-and-trade rules, said
today in an interview today at the talks.
The 1997 Kyoto Protocol has targets for most industrialized
nations that expire in 2012. Without targets, there is no legal
incentive for nations to impose laws that cut emissions or
require purchases by companies of emission-reduction credits.
Voluntary, non-global emission programs including that in
the European Union and those planned in Japan and California,
may keep companies buying credits and allowances, Derwent said.
"You need at least a critical mass of companies around the
world," he said.
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To contact the editor responsible for this story:
Reed Landberg at +44-20-7330-7862 or
landberg@bloomberg.net
