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Carbon Market Opportunity Came Out of Thin Air
Atlanta attorney John Varholy went to London six years ago to help clients trade an invisible, intangible commodity on a market that didn't exist. Now the managing partner of Troutman Sanders' London office, Varholy focuses on the market for trading carbon emission allowances -- essentially, the right to pollute. Created by a Gordian knot of regulations, the multibillion-dollar market is big business in Europe, and it may one day serve as a model for what could happen in the United States.