Financial Soultions: Canada to stand as a large purchaser of carbon credits.

Nov. 5, 2009 - PRLog -- The demand for carbon credits in Canada is set to far surpass domestic supply, making it vital to have to have access to an international trading arena, Financial Soultions believes a Canadian clean power convention was told recently.

In his statement, the chairman of the National Roundtable on Environment and Energy said that the proposed North American carbon market, presently being looked at by Barak Obama’s Senate may be the channel to fill the demand for excess credits that Canada requires.

"Canada will not move until they see the Obama plan passed and implemented," Financial Soultions believes the chairman was quoted as saying at the Independent Power Producers Association of B.C. recently, continuing that the availability of global markets would be a "safety valve for cost containment."

The consensus was that Canada was waiting for the U.S. to take the lead on issues such as cap and trade with a “hybrid” cap and trade system ready to emerge in Canada.

"Once (Canada) sees the U.S. legislation it will move quickly," the Chairman, Robert page said.

Canadian provinces were urged to develop a central greenhouse reporting system ahead of such a scheme to lower administration costs when the time came. Companies too were urged to be proactive and to stand in readiness for what seemed to be a certainty after the December Copenhagen climate talks, Financial Soultions was told.

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