Original story from Herald Tribune:
“The global carbon market tripled last year to $30 billion from $11 billion in 2005, the World Bank’s carbon finance unit said Wednesday.”
“Carbon markets put a price on carbon, and so are seen as a possible key weapon against climate change, motivating people and businesses to think harder about their greenhouse gas emissions.”
“Through a linked, project-based market, European companies can meet their EU emissions caps by funding clean-energy projects in developing countries through carbon trade under the Kyoto Protocol on global warming. That project-based market doubled to $5 billion in 2006, and raised an extra $16 billion in finance for development of clean-energy technologies, the World Bank said.”
This makes me think of my friend Amy Balkin‘s project PUBLIC SMOG. The project consists of a gesture in which the artist buys and withholds carbon gas emission credits from international trading markets in order to create a temporary clean-air park. Aiming to highlight the complexities and contradictions of current environmental protocols, Balkin will attempt to submit an application to qualify the entire atmosphere as a UNESCO World Heritage Site.