With Republicans gaining additional power in Washington yesterday, a federal carbon-trading market is unlikely to emerge any time soon in the U.S. However, state and regional markets may continue to grow, according to a report in the New York Times.
Attendance was down at this year's Carbon Market Insights Americas conference, hosted by market monitor Point Carbon, but professionals say the industry is moving forward.
Buoyed by the rejection of Proposition 23 and the proposal of a carbon-trading program in California, regional markets like the Western Climate Initiative could become successful models for carbon trading in the U.S.
Meanwhile, countries like New Zealand and South Korea are moving forward with the creation of carbon trading programs, despite global economic difficulties.
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