01 December 2006, The Economist

The World in 2007: 'Hot Money'

The Economist's annual compilation of forecasts, 'The World In 2007' , examines issues that will shape the year ahead. In this years edition, Philip Coggan (capital markets editor), discusses the development of the alternative-energy sector including: biofuels; windfarms; solar energy; fuel cells and the trading over carbon credits.

"In 2006 the European Union's emissions-trading scheme was crippled by the over-allocation of permits by member countries, prompting the price to plunge by two-thirds. But James Cameron, a founder of Climate Change Capital, is optimistic. He has just raised an $830m fund to invest in carbon trading and says the scheme "is the best chance we have of reducing large amounts of greenhouse gases at relatively low cost." The size of Mr Cameron's fund is an indication that serious money will be invested in this area."

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