Macquarie Group Limited (ASX:MQG) has reportedly been working on its international carbon trading business for five years, positioning itself to benefit from Australia’s proposed carbon tax.
Under the Federal Government’s carbon tax unveiled earlier this week, carbon trading is expected to start in 2015 when the price will be set by the market through an Emissions Trading Scheme.
According to the Australian Financial Review, Macquarie has been paving ahead of its Australian competitors through trading European emissions trading scheme permits since 2006 through its London office.
The report says Macquarie is planning to leverage this experience into the local carbon trading market through working with large-emitting clients to address liquidly, hedging, offsets and general advisory.
In the 2011 financial year Macquarie Group posted a $989 million net profit.
