Voluntary Carbon market is fast becoming big business
If anyone had doubts about the importance of the voluntary carbon market they would certainly have been overcome by the announcement last month by Merrill Lynch of a new carbon offset service to assist businesses to reduce emissions through voluntary offsets. In partnership with ICF International, Merrill Lynch's new Green and Gold initiative is the latest in a series of moves by major financial institutions to position themselves in a market valued by Abyd Karmail, Merrill Lynch's managing director and global head of carbon emissions at over of $70 billion.