The Big Money Pouring into Carbon Trading
As concern mounts over the problem of global warming, the trading of carbon credits—or the right to emit specified amounts of greenhouse gases—has become a hot business. It reached a new pitch in the past week, after Morgan Stanley (MS) said Oct. 26 that it would plow $3 billion into beefing up its position in global carbon-trading markets. The New York-based brokerage will expand existing trading activities launched in 2004 by its commodities division and pour funds into projects related to emissions reduction.
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