Event focuses on Carbon Trading
Posted: 27 August 2007
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Climate change opens up new energy markets to Gulf investors, according to an environmental market expert, who will be the key speaker in a financial forum to be held in November.
Rod Beckstrom, co-founder of The Environmental Markets Network, said companies across the GCC region can tap into the global carbon market which was worth an estimated $30.7 billion last year.
By placing a cost on carbon emissions and a value on emission reductions, the carbon market is created through the trade of the resulting allowances or credits. In 2006, the market saw transactions for 1.6million tonnes of carbon dioxide emissions, with experts predicting a 50 per cent rise for 2007.
“Global warming is clearly one of the greatest political and scientific challenges that we face, threatening life on many levels,” he said.
“However, a solution could be at hand through global business, if countries can create binding markets that reduce greenhouse gas levels in the atmosphere,” said Beckstrom who will be speaking on a lecture during the DIFCweek in November 19, 2007 in Dubai .
DIFCweek, will focus on financial opportunities for the Third Millennium. It is the first event of its kind in the Middle East , which will also, highlights binding markets and the technologies to create phenomenal business opportunities in the international financial arena.
“This multi-billion dollar market opportunity has emerged because pollution reduction credits are so valuable that there are entire new businesses, and networks of businesses, created purely to create these reductions,” he added.
Beckstrom is chairman and CEO of TWIKI.NET, and serves on the board of Environmental Defense (ED), the leading environmental group that co-authored the Kyoto Protocol, part of the UN's international treaty on climate change.
He continued: "We are seeing phenomenal innovations at every level of industry, with opportunities at each level of the investment cycle,"
"Venture capital investment opportunities abound in clean technology, and many funds are emerging to back new clean and green technologies that clean up the environment.
"There are private equity opportunities in leading companies and consulting groups that are addressing these market sectors. Meanwhile, new types of merchant banks are sourcing, creating and trading carbon credits." |
