Canada Debuts Carbon Exchange

Published June 01, 2008

More Stories On: Emissions Trading

MONTREAL, Canada — The Montreal Climate Exchange launched Friday in a bid to reduce greenhouse gas emissions 20 percent below 2006 levels by 2020.

The Montreal (MCeX) exchange is a joint venture with the Chicago Climate Exchange. Originally, the country agreed to reduce emissions 6 percent below 1990 levels by 2012, but the government said that goal was unattainable. Emissions instead grew 35 percent.

“The listing of the MCeX futures contract is a 'first' and it makes Montreal Climate Exchange the first regulated environmental market in Canada," Luc Bertrand, the exchange president, said in a statement. "The MCeX market will help Canadian industry discover the true 'price of a tonne of carbon' under the new federal regulatory framework."

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Canada Debuts Carbon Exchange

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