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After carbon emissions are traded, the next step will be to commodify air and water.

2010-03-12

Richard Sandel, chairman of the Chicago Climate Exchange and known as a “carbon trading advocate,” said at the Asian Financial Forum in Hong Kong on January 21 that after the successful launch of carbon emission options, the next step will be to promote the commodification of air and water, and he believes that China will become an important market for such futures trading.

Sandel stated that air and water will become the most important commodities in the next wave of economic development. He revealed that the Chicago Climate Exchange is currently collaborating with Tianjin to establish the Tianjin Climate Exchange, where commodities such as carbon dioxide, water, and sulfur dioxide will be traded. Sandel said, "I firmly believe that China can become a significant market for carbon emissions, air, and water trading, thereby greatly improving the quality of life for people in China and around the world."

Sandel believes that effectively controlling sulfur dioxide pollution will significantly reduce medical costs for people seeking treatment for lung diseases. "We must consider the big picture. It's important for China to steadily move forward on its own path in the climate field," Sandel said. Sandel is the chairman and founder of the Chicago Climate Exchange, the world's first voluntary, legally binding greenhouse gas emissions cap-and-trade system.

-Reference source: Xinhua News Agency, 2010-02-03

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