Montreal Climate Exchange opens for trading greenhouse gas credits
June 3, 2008
By Canadian Consulting Engineer
Canada's first regulated exchange market for carbon credits was opened on May 30. The Montreal Climate Exchange, M...
Canada’s first regulated exchange market for carbon credits was opened on May 30. The Montreal Climate Exchange, MCeX is a joint venture of the Montreal Exchange and the Chicago Climate Exchange, which was the world’s first greenhouse gas emissions reduction and trading system.
The way carbon exchange systems work is that companies who run “green” operations can sell carbon credits on the market, and thus stand to gain economically. Companies that emit more than their quota of greenhouse gases have to buy credits i.e. pay for their pollution.
Federal Environment Minister John Baird and Quebec Premier Jean Charest were present at the opening of the Montreal exchange.