Saturday, May 31, 2008

Canada enters carbon exchange market with Montreal Climate Exchange launch

MONTREAL — Launching the Montreal Climate Exchange will give Canada a jump on firm environmental action promised by the three remaining U.S. presidential candidates, Quebec Premier Jean Charest said Friday.

The next American president is going to bring in a cap-and-trade system that will impose legislated limits on carbon dioxide emission, Charest said at the formal opening of the exchange.

"It is in our interest in Canada to be ahead of this curve and to prepare for what is going to be one of the most important markets or commodities in the next few years," said Charest, a former federal environment minister in the Progressive Conservative government of Brian Mulroney.

"We must move now and not wait until that happens and rather be in front of this important movement."

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