Oct. 1 (Bloomberg) -- The expansion of carbon-trading mechanisms demonstrates that emission markets are the “policy instrument of choice” for cutting greenhouse gases, according to the International Emissions Trading Association.
New carbon markets are developing in several regions, including Australia, California, Chile, South Korea and China, IETA said in an annual report published today.
“These schemes all have their own timelines but are emerging as evidence that market-based trading systems are on the rise in both the developed and developing world,” IETA President Dirk Forrister said in the report.
The growth of new trading mechanisms requires policy coordination and linkage where possible to “guard against a disjointed and complex global carbon market,” Forrister said.
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