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TSX Group Inc. CEO Richard Nesbitt today told Energy & Mines Ministers at a conference in Yukon that Canada has one of the most efficient marketplaces in the world. He also believes Canada should promote its resources “brand” internationally – showcasing the importance of mining and what the markets in Canada do to help build this sector. He pointed out with increased international competition, Canada has prospered while enforcing appropriate standards. “We want to make sure that the balance between protecting investors and the compliance costs of regulating reporting on financial controls does not get out of balance.”
Mr. Nesbitt also touched on the future of emissions trading and with a Federal Policy on the Environment expected soon, the Ministers should be considering made in Canada solutions, including the public markets, to deal with some of the future challenges.
Mr. Nesbitt said, “TSX Group is ideally placed to provide one of the best market solutions to the dilemma we face as we develop our energy resources on the one hand and put downward pressure on carbon emissions on the other.
Mr. Nesbitt added that, “Most of the likely major players in a future carbon market are already our customers, either through our two stock exchanges or NGX, so we are very familiar with their operations and them with ours. In fact, I believe that under the right conditions we could implement a system of carbon cash instruments trading akin to our energy auctions within months.”
Click here to download Richard Nesbitt's remarks.
