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The article reports that the decision of European Union to mandate all flights taking off from and landing in its territory to purchase carbon credits for offsetting greenhouse gas emissions may increase the carbon trading market. The decision would be applicable on all flights including non-European Union ones, as the purpose was a part of European Union Emission Trading Scheme. There is still no political decision concerning any form of transport to be included in carbon trading, except aviation.

The article focuses on the release of the 2nd report on greenhouse gas abatement in New South Wales. The Electricity Supply Act 1995 prescribes the Independent Pricing and Regulatory Tribunal's functions as Compliance Regulator and Scheme Administrator for the Greenhouse Gas Abatement Scheme. Minister for Utilities Carl Scully released the annual report on compliance and operation of the Scheme for 2004.

The article focuses on the efforts of nine U.S. states to cut emissions of power plants. Several public officials have reached into a preliminary agreement to freeze power plant emissions at their current levels and reduce them by 10% by 2020. The cooperative action came after the decision of the government not to regulate the greenhouse gases that contribute to global warming. Significantly, the regional initiative would set up a market-driven system that would control emissions of carbon dioxide, the main greenhouse gas, from various electric generators in the nine states. On the other hand, various city mayors have signed to meet the emissions reductions standards.