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Global Climate Change Digest
A Guide to Information on Greenhouse Gases and Ozone Depletion
Published July 1988 through June 1999

Trexler on Trading (JUNE 1999)

Item #d99jun43

On Mar. 24, 1999, at the Australian Financial Review’s Second Australian Emissions Trading Industry Forum, Mark Trexler said that the global market for greenhouse gases could be worth $40 to 100 billion a year. The market consists of trades in emissions of greenhouse gases measured in units of equivalent tons of carbon dioxide. A range of greenhouse products are offered on the current market, but their quality varies widely; the true value of the commodities needs to be standardized. Costs and prices are often confused on the market today, and Trexler predicted that “economic rent” for greenhouse-reduction capabilities would be sought by offerors, establishing a market-clearing price. He also said that resolution of the early-action issue was crucial to the advance and development of emissions-trading markets.