Top Biz News
China can be pre-eminent market for air, water trading: Sandor
(Xinhua)
Updated: 2010-01-22 13:54
 |
Large Medium Small |
Having setting up the only carbon exchange in North America, Richard Sandor, chairman and founder of the Chicago Climate Exchange, said at the Asian Financial Forum in Hong Kong on Thursday that China could become the pre-eminent market for trading air and water.
"In the 21st century, value creation will be marked by the commoditization of air and water," Sandor said, adding the Chicago Climate Exchange had cooperated with the China National Petroleum Cooperation to start the Tianjin Climate Exchange, whose products range from CO2, water quality, SO2, etc.
| ||||
As for SO2 pollution, the main component of acid rain, Sandor thought it could save billions of dollars a year in health expenditures if dealt with properly.
"You have to look at the whole picture. The important thing for China is to develop its own climate path slowly but move forward," he said.
Founded in 2003, the Chicago Climate Exchange was the world's first voluntary, legally binding greenhouse gas emissions cap and trade system.
