Emissions Trading Comes in Like a Lamb.

The article reports that the European Union's (EU) Greenhouse Gas (GHG) Emissions Trading Scheme (ETS), the largest such multinational, multi-sector market, officially opened for business 3 January 2005. In a reversal of typical spring weather patterns, trading started fairly mildly, but is expected to become more robust over the next couple of months. EU industries conducted no transactions on the market's opening day, and, at this writing, only a handful of forward trades have occurred. However, as more industries are assured of their carbon dioxide (CO2) emission allowances, and more trading bourses come on-line, both the number and volume of trades are expected to rise.