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CO2 Markets ‘Cautiously Optimistic’ on Global Links

Participants in carbon emissions trading worldwide are “cautiously optimistic” that climate envoys will devise a global carbon market by 2015, the International Emissions Trading Association said.

About 55 percent of lawyers, traders and executives representing greenhouse gas emitting companies surveyed said they expect United Nations negotiations to set up the market by 2015, Jeff Swartz, director for international policy at IETA told reporters today in Doha. The Qatari capital is hosting two weeks of climate treaty talks that began yesterday.

“There is a cautious optimism towards a global and comprehensive international emissions-trading system over the next three to five years,” Swartz said.

Four-fifths of respondents in the survey said they expect the existing climate treaty, the Kyoto Protocol, to be extended in Doha into a second round of commitments starting 2013, and 77 percent said countries that don’t participate in the second phase should still be able to purchase Certified Emissions Reduction, which would help mop up a supply surplus.

IETA carried out the survey with Climate Connect, a researcher based in Delhi and London. They received 99 responses in the two weeks leading up to the Doha talks. Most participants said China and India are the most promising future markets for carbon, according to Swartz.

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