Canada to establish a new carbon market

The Canadian government announced yesterday that a new carbon market in Canada may eventually link up with new EU and US carbon trading. While the timetable isn't set in stone yet, buying and selling of carbon credits could begin as early as this autumn. By January 1, 2011, Canada's large industries will be forced to comply with mandatory cuts in carbon emissions. Rules and requirements for generating offset credits, including the issuance of credits and an explanation of how CO₂ cuts would be verified, will be published following a 60-day public consultation.