UN, Greenpeace approve of carbon trading

Heres a good article that should be read.   Emissions trading is seen by many as the glue that will hold the system together by reducing greenhouse gas production while generating funds to develop clean technology and help poor countries adapt to environmental changes such as rising sea-levels.

“A functioning carbon market will be critical to a successful agreement,” U.N. climate chief Yvo de Boer told The Associated Press ahead of the Bangkok meeting.”The point of the market is to find the most efficient way to reduce emissions,” said Greenpeace’s Bill Hare, who supports the market but admits he has concerns about the lack of regulations.

“The tighter the cap, the higher you will see carbon prices and the more incentive to switch to investments to lower emitting technology and practices,” he said.