Carbon Markets:

Former U.K. climate director Derwent discusses price volatility, offsets debate

With Senate Majority Leader Harry Reid pushing for a global warming bill to hit the floor by the end of summer, Congress is moving quickly to develop and debate climate legislation. During today's OnPoint, Henry Derwent, president of the International Emissions Trading Association and the former climate change director for the United Kingdom, takes a look at the state of international and domestic carbon markets and discusses how markets would be affected by a U.S. cap-and-trade law. Derwent explains why there has been so much volatility in the price of carbon recently and talks about the price assurances that are needed in order to drive investment and innovation.