Texas opens carbon credit exchange
Last week the Texas Climate & Carbon Exchange (TCCX) launched in Austin, signaling that the largest carbon emitting state in America is taking carbon markets very seriously.
In partnership with Carbon Trade Exchange the TCCX will focus on the trade of voluntary carbon offset credits for companies seeking to improve their environmental impact.
The voluntary carbon offset credits will be generated from projects across the US as well as internationally.
The US has seen a number of other exchanges launch as states continue to engage in carbon markets.
Next year California will begin regulating the emissions of large stationary emitters such as power plants and fuel refineries.
The California carbon market is expected to demand over 10 million carbon offset credits in 2013, while generating over $1 billion in state revenue to be spent on renewable and clean energy projects.
California carbon allowances have been trading for over $15 each over the past several weeks.