The US is likely to move forward with a piecemeal approach to reducing greenhouse gas (GHG) emissions, according to speakers at the US-China Carbon Finance Cooperation and Development Conference in New York yesterday.

“Cap-and-trade is alive in the US and will continue to move forward,” said Jonathan Schrag, executive director of the Regional Greenhouse Gas Initiative (RGGI), the first mandatory, market-based scheme to reduce GHG emissions in the US.

Speaking on a panel about the US carbon market