Carbon trade to play bigger role in overcoming climate change: EU

"From my perspective, carbon trade will further play an important role in addressing the challenge of climate change," Nuno Calastadi said on the sidelines of the United Nations Framework Convention on Climate Change (UNFCCC) here Thursday.
International carbon trade would serve as one of the key elements in the post-Kyoto Protocol climate regime, Nuno said.
Admitting that the EU`s policy on carbon pricing had neglected one of the stimulating factors in reduction of carbon emissions, Nuno said : "Of course, there must constantly be a sound market."
Therefore, cooperation among and support from relevant parties were needed to create a sound global carbon trade, Nuno said.