I have just returned from a trip to London to evaluate some business opportunities in carbon trading stemming from the commencement of the Kyoto protocol. I was surprised by the level and intensity of interest in this market.
A few relevant trends I noticed:
- Significant interest by investors in carbon and emissions trading. Including numerous private equity style investment funds being raised to trade carbon credits and develop carbon offset projects.
- Deep government support for technology, trading mechanisms, and public awareness. For more information, check out www.thecarbontrust.co.uk, the site for a government funded independent organization focused on reducing the UK’s carbon footprint.
- A broad-based industry interest in clean technology, far surpassing what we see in the US. This trend is illustrated not the least by massive advertising campaigns from industry and government about the need for cleaner fuels, lower emissions, and more environmental and sustainable awareness. One of the most notable ad campaigns, which Americans will also be aware of, is British Petroleum.
- And perhaps of real concern for us in America, a broad distrust of the US government and the Bush adminisitration, especially its motivations when it comes to the environment.