As per Reuters news Climate Exchange Plc, UK  expects to set up voluntary exchanges in India and China. The exchanges will be similar to the Chicago Climate Exchange (CCX) in the U.S.European Climate Exchange (ECX), has 80 percent of the exchange-based trade in European Union carbon permits.CCX has over 300 members presently since its start in 2003. India and China are not part of the Kyoto Protocol, and need not comply emission reduction targets set under Kyoto. It is good to note that the initiative will increase the Projects aimied at emission reductions. Source:ndtvprofit.com. The news is here. h*tp://www.ndtvprofit.com/homepage/news.asp?id=281797