Word: levels
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Dates: during 2000-2009
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...good regulating domestic fund managers if those selling to investors from outside the region aren't obliged to respect similar rules. But while U.S. efforts are underway to bolster the policing of hedge funds - and the meaning of equivalent regulation is still to be defined at the E.U. level - as it stands, "regulatory equivalence between the United States and European countries does not exist," says Andrew Baker, CEO of AIMA. "As of the date of introduction of that measure, you would have a lock out of all American managers from the European Union." That limits investors' choice, Baker says, especially...
...Amid strident criticism from industry and national governments, the proposals - currently being scrutinized by both the European Parliament and European Council, which represents national governments at the E.U. level - will almost certainly be amended. Sweden's Odell insisted the legislation was "a raw diamond that needs to be polished more." Myners, the British Minister, has vowed to "fight tooth and nail" to get the draft revised. Industry groups, meanwhile, have mounted keen lobbying campaigns. With nothing likely to enter into force before 2011, "there's one safeguard against it being introduced as it is," says AIMA's Baker...
...voluntary market, you won't exactly be able to retire on the payoff. Plus, the website is still evolving, and the company still needs to find corporate buyers who will take on the credits - which right now would be useful only on a voluntary level, not to meet any corporate carbon reductions required...
...better boilers and compact fluorescent lightbulbs, the site will calculate how much carbon you've saved. Those translate into carbon credits of 1 ton of CO2 avoided. The company certifies the credits and brokers the sale. "This is a system that incentivizes you to save energy on a personal level," says Paul Herrgesell, project manager for My Emissions Exchange. "This aligns with your economic interests and encourages you to reduce consumption...
...paper published in the July 6 Proceedings of the National Academy of Sciences (PNAS) by a team of researchers at Princeton University offers a possible way out of the diplomatic dead end. Instead of simply considering carbon emissions on a national or per capita level, the Princeton team proposes a more granular system of climate accounting that would examine the range of individual emissions within countries. Thanks to economic growth, there are well-off people in almost every nation in the world - and the global middle class and wealthy, in India or Indiana, are responsible for most of the carbon...