US CO2 Market Needs Federal Push to Blossom, August 29

Reuters
http://www.planetark.com/dailynewsstory.cfm/newsid/32221/story.htm

US trading of heat-trapping greenhouse gas emission contracts could eclipse the European Union's $37 billion market, but only if the federal government imposes mandatory limits, experts say.
 The UN-backed Kyoto treaty hatched the world's first large-scale trading of carbon emissions among the EU's 25 members, which started in January. Some $37 billion in emission allocations are expected to trade there annually, according to the Pew Center on Global Climate Change.
Greenhouse emissions credits are essentially buying and selling the right to pollute.

 Brazil opens carbon credit market, September 15

ISN
http://www.isn.ethz.ch/news/sw/details.cfm?id=12827

The Brazilian Development Ministry on Wednesday announced the launch of the region’s first carbon credit market in cooperation with the Brazilian Stock Exchange in Rio de Janeiro, in a move that paves the way for industry in developed countries to counterbalance high levels of greenhouse gas emissions by purchasing carbon credits in Brazil.

Since the Kyoto Protocol entered into force on 16 February, the Brazilian government has begun approving authorizations for company and project participation in clean development mechanisms (CDMs). Authorized companies and projects will then be able to sell carbon gas credits to companies in developed countries that are trying to meet the Kyoto Protocol demands for reducing green house gas emissions.