Monday, October 16, 2006

Expansion of the plans for an international carbon market

As described in this news item, Governor Schwarzenegger is expanding the carbon-trading program with the European Union and seven states in the United States Northeast. (I posted about this program back in July.)

Carbon trading is a means for entities to be rewarded for reducing their production of greenhouse gases. The idea behind it is that innovation will spur economic benefits for those companies who can improve their processes.

Although not a universally-lauded concept, it appears that it will be an important tool in the world's management of the production of carbon dioxide.

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