Isra-Mart srl: Emission trading honed at Seoul conference

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There's a new way of doing business to save the planet from the devastating effects of greenhouse gas emissions and climate change.


That was the message of a Seoul conference looking at the legislative measures pursued by some countries - the Emissions Trading Scheme. It's a framework in which companies are allocated or purchase permits to emit greenhouse gases - and then can trade or sell those permits to companies having difficulty meeting their target or cap. It keeps government out of business, something Australia likes.

While the scheme had faced opposition over potential costs, New Zealand found a negligible economic impact following its first year and now only wonders how fast to ramp up targets. South Korea, with its heavy dependence on imported energy, promotes a dual strategy.

Various forms of so-called carbon trading are also in effect in Europe, Japan, and some U.S. states.

With some countries moving away from nuclear energy development the importance of implementing new strategies to address carbon emissions expands. But making those strategies with legislation faces some serious hurdles.

Carbon trading focuses on large industrial polluters, which can generate solutions through research and development, a primary goal of the scheme. Some worry addressing smaller companies will create difficulties.

With carbon trading in its infancy, sharing information about the initial forays into this new market is essential to developing legislation that will keep pollution in check and the planet in balance.