Carbon Market Daily Report 02/25 Megan Morgan Beausang

Carbon Market Daily Report 02/25

February 25 2009

"So I ask this Congress to send me legislation that places a market-based cap on carbon pollution and drives the production of more renewable energy in America." Barack Obama, address to Congress, 02.24.2009

President Obama lent his voice last night to the push for a mandatory cap on greenhouse gas emissions, using his first speech to a joint session of Congress to lobby for controversial legislation sure to spark a heated debate during tight economic times. Obama campaigned for president last year with climate change and energy issues atop his agenda. And he returned to those themes yesterday, saying that a cap-and-trade bill would help spark economic recovery by giving U.S. companies greater incentive to start producing more wind turbines, solar panels, biofuels and battery-powered automobiles. "To truly transform our economy, to protect our security, and save our planet from the ravages of climate change, we need to ultimately make clean, renewable energy the profitable kind of energy," Obama said in his address to Congress. "So I ask this Congress to send me legislation that places a market-based cap on carbon pollution and drives the production of more renewable energy in America. That's what we need." In his next breath, the president teased a key climate-related component in his upcoming budget proposal to Congress. "To support that innovation, we will invest $15 billion a year to develop technologies like wind power and solar power, advanced biofuels, clean coal, and more efficient cars and trucks built right here in America," Obama said, referring to a budget plan that would assume government revenue from the allowances sold to companies for compliance with the cap-and-trade system. E&E News; see also: http://www.nytimes.com/cwire/2009/02/25/25climatewire-emissions-bill-needed-to-save-our-planet--oba-9849.html

CCX Parent, Climate Exchange plc, the leading global environmental exchange operator, will announce its preliminary results for the year ending 31st December 2008 on Thursday 12th March 2009. http://www.londonstockexchange.com/LSECWS/IFSPages/MarketNewsPopup.aspx?id=2098422&source=RNS

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