The Credit Suisse & Asia Society Sustainability Series
NEW YORK - In recent years, climate change and emissions-cutting investments have found their way to the top of the global agenda, leading to international efforts to discover effective solutions. On April 7, five distinguished panelists representing public and private sectors in the US, China, and India, came to the Asia Society to discuss the future of carbon trading.
All five panelists had high hopes for the growth of global carbon markets, and all favored trading systems over carbon taxation. The conversation focused on issues related to the development of relevant financial markets as well as the on-the-ground effects of carbon trading on sustainable infrastructure investments in China and India. The speakers also discusses the US, Chinese, and Indian approaches to developing carbon market regulations and joining a global climate change regime, concurring with the idea that the developed world will have to lead the way before developing countries such as China and India follow.
On the bright side, Tim Profeta, principal architect of the Lieberman-McCain Climate Stewardship Act in 2003, believes that there is a 90% chance that the post-Bush administration will pass an environmental bill that includes a cap-and-trade system.
Paul Ezekiel, Global Head of Carbon Trading, Credit Suisse
Peter Ho, Country Director, China, EcoSecurities Group
Timothy Profeta, Director, Nicholas Institute for Environmental Policy Solutions, Duke University
V Raghuraman, Principal Adviser and Head, Energy, Environment and Natural Resources, Confederation of Indian Industry
Jon Anda, President, Environmental Markets Network; Trustee, Asia Society
Excerpt: Jon Anda, president of the Environmental Markets Network, explains the benefits of carbon markets (7 min., 25 sec.)