Environmental Protection

Experts Set Debate on Carbon Trading for U.S. Business

Trayport, Europe's carbon trading platform, is sponsoring a debate on "Is Carbon Trading the Next Big Thing for US Business?" from 5:30 p.m. to 8:30 p.m. Oct. 13 at the Hudson Hotel in New York City.

Leading U.S. and European authorities will focus on the effectiveness, economic benefits, profit potential and environmental soundness of a cap-and-trade program similar to the EU Emission Trading Scheme (EU-ETS).

The European Union (EU) made carbon trading mandatory in 2003. Despite taxpayer objection, U.S. manufacturers, energy companies and others have begun trading carbon credits on voluntary markets. Moreover, India and China now share a sense of urgency over reducing carbon emissions and embrace carbon trading as a solution.

"The U.S. economy stands to benefit. The nation will likely have excess emission quotas to sell and opportunities to generate credits for sale under both the California and Federal legislative proposals and will look to electronic trading as the means to achieve this. Carbon trading will also create jobs to monitor emissions, trade credits and develop green technology," says Elliott Piggott, managing director of Trayport, Inc.

Fred Fishkin, CBS Radio journalist, will moderate the pane that includes:

      Dinesh Babu, chief executive officer, Carbon Ratings Agency;
      Veronique Bugnion, managing director Analytics & Research, Point Carbon;
      Steven Schleimer, director, Barclays Capital;
      Prof. Praveen Kumar, faculty fellow, CT Bauer College University of Houston;
      Christopher Hunter, vice president, Carbon Finance (US), Climate Change Capital ;
      Kiernon Allen, marketing director, Bluenext ;
      Michael Cosgrove, managing director/head of Commodities & Energy Brokerage, North America, GFI Group;
      Elliott Piggott, managing director, Trayport.

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