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THERE?S MONEY IN CARBON?Carbon trading markets are skyrocketing, offering the potential for profits in carbon-reducing projects, such as ocean iron fertilization. Industries in countries regulated by the Kyoto Protocol or other legally binding agreements are assigned a maximum allowable level of carbon emissions each year. Those that go under their limit may sell the remainder to those that run over in carbon-trading markets.
Under the Kyoto Protocol, firms in industrialized nations can receive carbon credits for financing projects for reducing greenhouse gas emission in developing countries (Clean Development Mechanism projects) or in other industrialized countries (Joint Implementation projects). In voluntary markets, concerned individuals or companies have no obligation to reduce emissions; they buy carbon offsets to assuage their conscience or make their image ?greener.?[back]
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