A few years ago, carbon trading was seen as a niche business. Not any more. There is now a growing recognition that it is set to become the world's biggest commodity market. Potentially, it could be the world's biggest market overall. Certainly, it will be the world's fastest growing market which is why the banks are getting into it big time. And because traders with experience are scarce, we will see leading investment banks poaching staff from oil companies or utilities.

Expect competition from companies who will be looking to create the special position of "Chief Carbon Officer". It's not yet an official designation, but it's a matter of time as carbon trading changes from being a matter of risk management, to one of management planning. More details from Tony McAuley at CFO Europe.com.