Climate Exchange plc was founded by James Cameron, previously a negotiator of the Kyoto Treaty. Mr Cameron is quoted as saying about the development of this new market, "It ’ s what we hoped for. Investment power is power, and you need power to make a change. There is huge vested interest in the status quo, and to shift that you need power". In Europe the market is expected to more than double from €9.4 billion (£6.3 billion) last year to €22 billion (£15.4 billion) this year, according to the analysts Point Carbon. Following publication of the Stern Review, which he had commissioned, UK Chancellor Gordon Brown urged member states of the European Union Emissions Trading Scheme to aim for new carbon emission targets. He said that they should reduce emissions by 30\% below 1990 levels by 2020 and by at least 60\% by 2050. 
Climate Exchange plc was founded by James Cameron, previously a negotiator of the Kyoto Treaty. Mr Cameron is quoted as saying about the development of this new market, "It ' s what we hoped for. Investment power is power, and you need power to make a change. There is huge vested interest in the status quo, and to shift that you need power". In Europe the market is expected to more than double from €9.4 billion (£6.3 billion) last year to €22 billion (£15.4 billion) this year, according to the analysts Point Carbon. Following publication of the Stern Review, which he had commissioned, UK Chancellor Gordon Brown urged member states of the European Union Emissions Trading Scheme to aim for new carbon emission targets. He said that they should reduce emissions by 30\% below 1990 levels by 2020 and by at least 60\% by 2050. Related news
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