Open for business

The EU Emissions Trading Scheme began this month, but much of the success of the fledgling carbon market will hinge on the behaviour of the 5,000 small companies who make up the bulk of the market. By Stella Farrington

There’s a definite excitement surrounding European emissions trading this month, with players and policymakers alike anticipating bumper growth in 2005 now that legal obligations to limit emissions have been placed on Europe’s heaviest polluters.

Standing at the start line, however, it’s not easy to predict how this new market might behave. After all, its potential participants range from