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DAVIS, EU (Reuters) – California Gov. Arnold Schwarzenegger on Tuesday signed agreements with two regions of Mexico and Brazil to include pilot projects to protect tropical forests in the carbon market in the U.S. state, an official said of the US- .
“Our announcement is an agreement between the three governors, Schwarzenegger, the governor of Acre and the Chiapas- to really bring these states, projects of these states, to the carbon market and to hopefully provide a way for others follow, “said Secretary of the Agency for Environmental Protection in California, Linda Adams.

Regions Acre in western Brazil and Chiapas in southern Mexico, have dense forests and have made considerable progress on the issue of deforestation, said Adams in an interview.

“They are on a mission to reach our markets in accordance to when it starts in 2012,” said Adams. “These are drivers instead of just opening the world and the controversy,” he added.

The agreements must be in good standing with the board for the control of air assets in California, which administers the regulation of climate change.

Carbon markets seek to limit total emissions of greenhouse gases that contribute to global warming.

Factories and power plants buy and sell permits to emit gases, depending on the efficiency of the market to find the best ways to reduce emissions.

Issuers can often obtain loans for projects that reduce carbon in the atmosphere.

The preservation of tropical forests is seen as one of the most cost effective ways to cut global carbon emissions, but is controversial.

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3. Brazil to get $16 bln annually in carbon credits from UN-REDD
4. Brazil, Mexico Lawmakers Back Poor-Nation CO2 Limits
5. Mexico Plans Carbon Market for Pemex, Power, Cement Companies

Tags: california carbon, Carbon Market