Mission Markets mentioned in International Herald Tribune article on Water Footprinting
Mission Markets was mentioned in an article published today in the International Herald Tribune entitled "'Water Footprinting' to Deal with Demand for Supplies". The article discusses the growing interest in "water footprinting", similar to carbon footprinting.
Here is a brief quote from the article that mentions Mission Markets:
"Michael Van Patten is chief executive and founder of Mission Markets, a financial services company that operates Earth, a multi-environmental credit exchange regulated by the Financial Industry Regulatory Authority in the United States. “We might be several years away, but the potential is huge,” he said. “The world knows we have a huge water problem, and no one knows how to solve it yet. This is one way to approach it.”
His idea is to develop tradable credits from the offsets of localized water projects. These could be bought by companies, countries or any community with a direct effect on the water supply. While there is no regulation in the United States to drive such a market, credit programs, if managed properly, could help to encourage environmental protection by reducing the costs involved, said Christian Holmes, a senior adviser for energy and environment at the U.S. Agency for International Development."
Click here to read the full article.
-The Mission Markets Team