There's No Smoke If Money Is Concerned; Clean Air: UK's Emissions Market Launches to Help Companies Reduce Pollution

Beginning of article

Byline: Neil Chatterjee

British firms are hoping to make money out of cutting the greenhouse gases that contribute to global warming, as Britain's fledgling emissions trading market gets its official launch today. Emissions trading has been embraced by Britain, Denmark, Norway and the European Union as a way of helping companies to reduce pollution as part of the UN Kyoto Protocol.

The UK target is to cut greenhouse gas emissions by 23 per cent on 1990 levels by 2010, well above the average of 5.2 per cent that industrialised countries are committed to by the protocol.

Certain companies have voluntarily agreed individual targets with the Government, for which they …