China "could lead carbon market", says Sandor

China could become the world's largest market for environmental products, predicted Chicago Climate Exchange founder Richard Sandor today.

At present, the carbon market is best-developed in Europe, where the highest volumes are traded in forwards rather than spot prices. But panellists at the Asian Financial Forum (AFF) in Hong Kong today also expressed hope for the future of the Chinese carbon cap and trade scheme.

As nations get wealthier, they tend to see growing environmental awareness and