Mark will be taking part in a major new inquiry by the House of Commons Environmental Audit Committee into the role of carbon trading in meeting UK and international climate change targets.

The Government sees emissions trading schemes as one of the key aspects of its strategy in tackling climate change and the Committee will look at the contribution that emissions trading can make to the UK carbon budgets and targets established under the Climate Change Act 2008.

The Stern Review stressed the importance of making carbon markets as big as possible, so as to improve their efficiency and effectiveness. In the light of this the Committee will examine the development of trading schemes in other countries (principally the United States), and the prospects of linking them together.

Carbon trading actually originated in the United States and the Committee will look in particular at local and state schemes and the potential for a national cap and trade scheme there. During the Bush years there was little hope of international cooperation but now the election of Barack Obama has awakened hopes of a European - United States alliance to build a joint carbon trading scheme which could eventually include other industrialised countries as well as developing countries such as India.

Carbon trading is seen by some as an effective way to bring about a transfer of technology and resources so that developing countries can grow economically without the massive increase in emissions which characterised Western industrialisation. However, critics have argued that emissions trading enables industries and countries with high levels of emissions to carry on much as normal, by buying carbon credits from other sectors and poorer countries.

Mark said:

"It is clear that the effects of climate change in the form of more extreme weather such as drought, heat waves, floods, and storms are felt most keenly in the developed world. We urgently need a calm, reasoned appraisal of the role that carbon trading can play in meeting the challenge of climate change and aiding developing economies to grow in a sustainable way. With Barack Obama now installed in the White House and fresh hopes of international cooperation, the Committee's inquiry is extremely timely."

Written submissions must reach the Committee by Tuesday 3 March 2009 and  evidence sessions are likely to take place from late March to late May.

For further information  on the work of the Committee, contact Laura Kibby at the Environmental Audit Committee on 020 7219 0718 or email: kibbyl@parliament.uk.