TSX Group believes that a national emissions market that allows the price of carbon to vary with market conditions is the best solution for Canada, says TSX Group Inc. Interim Co-CEO Rik Parkhill.

In a speech to the Calgary Chamber of Commerce today, Parkhill said, “At TSX Group we have, for a considerable time, looked at carbon trading as a market mechanism which holds great promise in supporting the reduction of carbon emissions.”

He added that a national solution, rather than provincial initiatives, is the preferred method to go.

“A national market that is compatible over time with the U.S. and Europe will make it easier to facilitate carbon reductions by emitters at competitive transaction costs. Governments elsewhere are moving, some quickly, some strongly, many reluctantly to get ahead of the curve on this issue,” Parkhill said.

Parkhill believes the best approach for Canada is a market driven solution including a transparent, liquid and trustworthy trading system with the support of emitters.

“I believe that the great opportunity lies in a national system that allows every part of Canada to share both the burdens and benefits of whatever we do on carbon emissions,” he said.