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Carbon trading begins in Australian market

| Sourced From |

Australias fledging carbon market saw the first trade between two Australian counterparts today, one of the parties said.

The deal, for 100,000 certified emissions reduction certificates, took place between Arcadia Energy Trading and Loy Yang Power.

The deal is significant because it show an intra-Australian market is forming as companies begin to lock in deals to hedge future exposure ahead of the federal government’s planned carbon pollution reduction scheme, Arcadia said in a statement.

Under the proposed CPRS legislation, companies with a carbon liability will be able to source credits from certified international sources such as certified emissions reduction certificates, which were created under the Kyoto Protocol.

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