Minister of State, Tony Killeen, was in Lisbon to attend the launch of the International Carbon Action Partnership (ICAP).

This coalition of EU member states, US states, the Canadian province of British Columbia, New Zealand and Norway is committed to working to provide an international forum for people to share experiences and best practices on the design of emissions trading schemes.

Speaking at the ceremony, Mr Killeen said: “Climate change is a global problem that requires a global solution.

“While it is important to take local and regional action to address climate change, it is not sufficient to limit our efforts at that level.

“The objective of the event is to lay the foundations for a global carbon market.

“The carbon market will drive innovation, and investment in the development and deployment of new low-carbon technologies.

“The challenge is not inconsistent with economic growth and social development.

“On the contrary, it brings with it new opportunities for cleaner, more sustainable growth and the carbon market will be a key global instrument in responding to those opportunities.”

The EU’s emissions trading scheme came into effect in January 2005 and over 100 Irish businesses are currently participating in the three-year pilot.

James Cooper

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