With cap-and-trade legislation making the rounds in Senate committees, and with President Obama set to visit the United Nations Summit on Climate Change in Copenhagen this month, now might be a good time for advisers to begin reading up on the potential for carbon trading in the United States if they haven’t already.

If passed, such legislation would set the stage for a national carbon-trading system — known as cap and trade — that would allow companies to buy or sell allowances or credits. Read more

The U.S. Climate Task Force (CTF) and Future 500 recently released a new survey conducted by Hart Research, which demonstrates that a straightforward tax on carbon is the favorite policy option for addressing climate change among American voters.

The study, which was commissioned and paid for by Future 500, polled over 1,000 registered voters across the country and offers the first insight into the U.S. public’s opinion of cap and trade as well as other policy options, like a carbon tax.  The result

July 14, 2009 (New York, NY)– The ten Northeast and Mid-Atlantic states participating in the Regional Greenhouse Gas Initiative (RGGI) today released the Auction Notice and application materials for their fifth regional carbon dioxide (CO2) allowance auction, scheduled for September 9, 2009.

The materials released today provide potential auction participants the information needed to submit a qualification application and publicize key auction details, including the number of allowances offered for sale and the reserve price.  Read more

The nation’s mayors under the leadership of Conference President Seattle Mayor Greg Nickels praised Members of the U.S. House of Representatives for approving historic energy and climate legislation.

On the Congressional action, Conference President Mayor Nickels stated, “This is a landmark vote that will help cities transform to a clean energy economy. For years, there was debate over the existence of global warming. Then came discussions about what to do about it. Today, we take substantive action. We praise Speaker Pelosi, Chairman Waxman and Chairman Markey and so many other House leaders for their Read more

There are three good carbon market reports published on the Environmental Defense Fund’s website for those who want to get a better understanding of this developing market:

Cap and Trade Primer

European Union Emissions Trading Scheme (EU ETS)

Financing a Low Carbon Economy

Nothing really new in this US News and World Report article, but an interesting read about Henry Waxman and his desire to tackle climate change quickly:

If America doesn’t act, Waxman warns, the country will pay a hefty price in terms of health, the environment, national security, and global instability. “We’re more and more suffering the consequences of global warming and climate change, which scientists tell us could be irreversible if we don’t take very serious action now,”  Read more

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