Mexico's stock exchange launched its first platform to trade carbon credits a voluntary initiative that allows polluters to offset their emissions with tradeable certificates. The new platform, called MEXICO2, provides an electronic forum for certificates conferring the right to emit one tonne of carbon dioxide, thereby attaching a cost to pollution. MEXICO2 also seeks to have investors fund environmental projects aimed at curbing greenhouse gases.
The new platform is the second such exchange in Latin America, following the launch of Costa Rica's BANCO2 market last month. Eduardo Piquero, head of the platform, said MEXICO2 expects to handle a million carbon credits in its first year of operation, doubling to two million in the second year.
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