US climate exchange auctions emission allowances

Newswire

By Karen Pierog CHICAGO, Sept 30 (Reuters) - One metric ton of carbon dioxide emissions is worth an average 98 cents this year, dropping to an average 84 cents in 2005, according to the first auction of emission allowances announced on Tuesday by the new Chicago Climate Exchange. Richard Sandor, the exchange's chairman and chief executive officer, said the auction marked the first multinational, public trading of greenhouse gases. Scientists believe greenhouse gases, released by burning ...

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