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  • Published: Jul 19th, 2010
  • Category: USA
  • Comments: 2

Big bucks in carbon trade?

| Sourced From Edmontonsun |

A cap-and-trade market for harmful greenhouse gas emissions could save participants $100 billion US over the next 10 years, a carbon trade group including a handful of Canadian provinces has found.

The Western Climate Initiative estimates that its 11-member partnership can slash carbon emissions to 15% below 2005 levels by 2020 through its cap-and-trade system and other complimentary policies.

The WCI covers roughly 72% of the Canadian economy with B.C, Manitoba, Ontario, Quebec, New Brunswick and includes some west-coast states such as California.

The cap-and-trade system, officially launching in 2012, would also help realize approximately $100 billion US in net savings by 2020, it said. The savings would stem from improved energy efficiency and reduced fuel consumption, in addition to benefits from a spinoff green economy.

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