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A Convenient Truth
Hedge fund managers and other investors are looking to capitalise on the potentially huge market in trading pollution-emission credits, writes Irwin Speizer.
"Gareth Hughes is delivering an impromptu lecture on the intricacies of international climate change policies, holding forth on his cell phone from the backseat of a cab making its way through central London to a client meeting for which he will probably arrive late.
...Hughes is clearly a man in a hurry, mining the profits in the world's worst sources of air pollution as managing director of Climate Change Capital, a London investment bank. The subject is hardly new to Hughes, who has spent much of his career working on climate change policies and energy-related investment in the U.K. and is now in a race to put Climate Change Capital ahead of the competition in the emerging carbon-emission-reduction business."
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