The US House of Representatives has approved the Waxman-Markey American Clean Energy and Security Act following a vote on June 26. The bill, which aims to reduce carbon emissions by 17% by 2020 and 80% by 2050 compared to 2005 levels, could pave the way to a mandatory US cap-and-trade scheme. However, the legislation still needs to be voted by US Senate and approved by Barack Obama, the US president, before any exchange traded scheme comes to fruition.
The Waxman Markey American Clean Energy and Security Act...