With the presence of dangerous amounts of greenhouse gas in the atmosphere, folks all around the world are try to cut down the gas emissions. The target is to do so by 2012. Therefore, the Kyoto Protocol as well as the Carbon trading system. Recently, a Japanese company announced that it is probably the first company to do spot trade in carbon credits.
marubeni
The Japanese trading house Marubeni Corp. said it sold about 10,000 tons of Carbon credit to a Japanese power company. As far as I know, the power companies emit a lot of greenhouse gases and this trading of carbon credits make perfect sense. The extra credits sold by Marubeni were earned by the company after it completed a project in South Korea.
According to the Kyoto protocol the extra credits earned could be traded with other firms. This is a great way to reduce green house gas emissions and support the endeavor.
When it comes to spot carbon trading, the credits are sold immediately unlike future contracts. The Asian countries seem to be a big fan of the system.
However, the US President George Bush did not accept this system of carbon credits. According to him, the systems is unfair. The politicians will have to abide by the Kyoto protocol if they want to stay in power. All this is being done to cut down carbon emissions by 2012.
Image Credit: Marubeni-USA
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