News

Carbon Counter Carbonetworks Grabs Funds

Martin LaMonica, CNET

But Carbonetworks CEO Michael Meehan said that demand for his company's software is already high, noting that billions of dollars worth of carbon is being traded every year.

That's because companies are voluntarily tracking their pollution or they anticipate regulations will be put in place in the next few years.

"The U.S. market dwarfs anything in the world. So even if it takes a long time, it's worth waiting for," Meehan said.

Even without a federal mandate to reduce greenhouse gases in the U.S., existing state climate laws represent half of the country's gross domestic product, he added. "We still believe things will happen much sooner than five years."