New Zealand to Launch Global Carbon Trading

A New Zealand-based carbon trading market open to global players is set to start trading next year, writes Reuters.

Known as TZ1, the market is currently being regulated by the New Zealand government for a launch in June 2008, at which time it will enable countries and companies to buy or sell rights to emit greenhouse gases.

The market has appointed former boss of Vector, Mark Franklin, as chief executive along with three senior executives.

The company says it is currently examining options for the capital structure of TZ1, including bringing in other shareholders and a public float, according to Reuters.

By staff writer