Abstract

Regulatory uncertainty has been inherent in climate change policy due to the absence of a successor to the Kyoto Protocol. Many companies have called for more certainty and a stable policy framework. However, besides having clear disadvantages, regulatory uncertainty may also benefit some companies if they recognize the opportunities of flux and move early. This article explores business opportunities that have emerged for different types of companies, including utilities, banks, project development & carbon offset companies, brokers, exchanges, consultants, auditors, and legal services providers with respect to clean development projects and the related carbon market.