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?Voluntaryactionsarecertainlythecenterpieceofwhatneedstotakeplace,?saysGlennKelly, <br />executivedirectoroftheGlobalClimateCoalition,aWashingtongroupofindustrytrade <br />associationsopposedtotheKyototreaty.?Thekeylinchpinisthetechnologycomponent.? <br />NewtechnologywillultimatelyhelpBPeliminateofnaturalgasonitsoffshoreoil <br />rigs.Itmayalsohelputilitiessqueezethesameamountofenergyfromlesscoal.Whatexperts <br />disagreeon:whethervoluntarymovescanreplacegovernmentregulation. <br />?I?mprettyskeptical,?saysTimBrennan,professorofpolicysciencesattheUniversityof <br />Maryland,BaltimoreCounty.?Wecan?tclosedowntheEnvironmentalProtectionAgencyon <br />thehopethatcorporationsaregoingtoagreetoreducepollutionontheirown...especiallya <br />greenhouseproblem,whichisinternational,?hesays. <br />Otherspecialistsbelievegovernmentshouldlettheprivatesectormaturebeforesteppingin. <br />?Marketswilldevelopbottom-up,?saysRichardSandor,projectleaderofthenewChicago <br />ClimateExchange,whichissettingupavoluntaryemissions-tradingsystemfortheMidwest. <br />?Themodelofatreatywithahomogenousstructure,withauniformstartdate,with133 <br />signatories,isnotthewayitworks.? <br />Underthetradingsystem,companiesthatitexpensivetocutpollutionwillpaycompanies <br />withlesscostlyemissioncontrolstomakecutsforthem.Thatway,theworldgetsthesame <br />greenhousegasreduction-butattheleastcostto <br />Governmentwilleventuallystepintoratifyandstandardizeproceduresstartedpiecemealby <br />corporations,hebelieves. <br />Already,theexchangeboasts33participatingcompanies,fromutilitiestoagricultural <br />cooperativestoforest-productconcerns.Thegrouphopestobeginrealtradingofemissionsin <br />thelatterhalfofnextyear. <br />TheChicagoexchangerepresentsoneofmanyprivate-sectoreffortstocoordinateemissions <br />reduction.EightlargecorporationshavejoinedtheEnvironmentalDefenseFundtocreate <br />thePartnershipforClimateAction.EnvironmentalResourcesTrust,aWashington <br />organization,ishelpingcorporationstracktheircurrentemissions.CantorFitzgeraldgroup <br />andPricewaterhouseCoopers,twoglobalserviceshavejoinedtogethertocreate <br />CO2e.com,aWeb-basedserviceforcompanieswantingtomovetoemissionstrading. <br />Suchprivate-sectorexperimentsmayprovecrucialdowntheroad.?Nothingisaspowerfulasan <br />ideawhosetimehascome,?saysMr.SandorofChicagoClimateExchange.?Andthisisanidea <br />whosetimehascome.? <br /> <br />