Carbon Finance: The Financial Implications of Climate Change (Wiley Finance)

Product Details

"A timely, objective, and informative analysis of the financial opportunities and challenges presented by climate change, including a thorough description of adaptive measures and insurance products for managing risk in a carbon constrained economy."
James R. Evans, M. Eng. P. Geo., Senior Manager, Environmental Risk Management, RBC Financial Group

"Climate change will have enormous financial implications in the years to come. How businesses and investors respond to the risks and opportunities from this issue will have an enormous rippling effect in the global economy. Sonia Labatt and Rodney White's insights and thoughtful analysis should be read by all who want to successfully navigate this global business issue."
Andrea Moffat, Director, Corporate Programs, Ceres

"In Carbon Finance, Labatt and White present a clear and accessible description of the climate change debate and the carbon market that is developing. Climate change is becoming an important factor for many financial sector participants. The authors illustrate how challenges and opportunities will arise within the carbon market for banking, insurance, and investment activities as well as for the regulated and energy sector of the economy."
Charles E. Kennedy, Director and Portfolio Manager, MacDougall, MacDougall & MacTier Inc.

"Climate change is the greatest environmental challenge of our generation. Its impact on the energy sector has implications for productivity and competitiveness. At the same time, environmental risk has emerged as a major challenge for corporations in the age of full disclosure. Carbon Finance explains how these disparate forces have spawned a range of financial products designed to help manage the inherent risk. It is necessary reading for corporate executives facing challenges that are unique in their business experience."
Skip Willis, Managing Director Canadian Operations, ICF International

"In this timely publication, Labatt and White succeed in communicating the workings of carbon markets, providing simple examples and invaluable context to the new and changing mechanisms that underpin our transformation to a carbon-constrained world. Carbon Finance will be the definitive guide to this field for years to come."
Susan McGeachie, Director, Innovest Strategic Value Advisors, Graduate Faculty Member, University of Toronto; and Jane Ambachtsheer, Principal, Mercer Investment Consulting, Graduate Faculty Member, University of Toronto

Product Reviews

(3 stars) - Good introduction book, nothing contained about finance.
This is a good book if you want to have an overall picture on the Carbon markets. The book provides summary of how the carbon markets were formed, why and how. However, do not expect to find any finance related chapters in the book, such as an in depth description of how instruments are structured, or on how to implement carbon instruments in actual projects. However, this book is excellent as an introduction, and is a must read before going on to more complicated text. My only problem with the book was its title, which gave me the impression that the book will be much more concentrated on the "financial" part of carbon trading.

(4 stars) - still need large global scope for trading
The book is an acknowledgement of how environmental concerns, and specifically global warming, are approaching mainstream. Labatt and White give a sober summary of various types of energy sources, nonrenewable and renewable. With the pros and cons of each.

Aside from these energy sources, they also discuss how to perhaps sequester carbon. That is, remove what is usually carbon dioxide emissions from the environment. One promising idea is to inject it into deep oil and gas fields. In part, this is helped by the fact that it is already being done. Albeit to improve extraction of the oil and gas.

The text also explains how aviation is a huge source of CO2 emissions. Something not originally considered significant, just a few years ago.

The book also goes into ways to do emissions trading. Big problems still exist, including verification of emissions. There is no mention of some pioneering work in the early 90s in Southern California, with the Air Quality Management District, and an exchange called Buenos Aires [sic].

Various trading mechanisms have started up. But nothing yet with a large global scope.

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