Progress, albeit small, on carbon markets

In the U.S., climate change and regulations on carbon emissions have been relegated to oped pieces thanks to the recession and lack of political will. Even so, there has been some progress as California advances toward implementing the legislation known as AB 32 that sets greenhouse gas emission targets by 2020. This week will mark an important milestone that industry observers are monitoring with the debut of a market that will auction emission allowances granted by state regulators. Albeit small, it is progress.