| Sourced From Nytimes |
SINGAPORE In July 2007, the Australian Climate Exchange, known as the A.C.X., introduced the first electronic trading system for greenhouse gas emissions in Australia. Voluntary Emission Reductions, or VERs, generated by abatement projects verified by the government-sponsored Australian Greenhouse Office, had been introduced a few months earlier and initial business on the exchange was brisk. It set up a registry for Australian VER certificates and soon was also trading similar instruments from overseas.
But this January, the A.C.X. discreetly halted business, and what had started like a lion went out like a lamb.
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