Australia is the Asia Pacific's growth market. Sydney, the capital of the State of New South Wales, is the international gateway to Australia and has a range of strengths that make it the ideal base for carbon market firms.

• One of the largest economies in the world
  Australia is the 14th largest economy in the world. It has the highest GDP per person in the Asia Pacific – higher than Japan, Singapore and Hong Kong.

  Australia's large economy, with a CPRS that covers 75 per cent of emissions, provides strong growth opportunities for companies in the carbon market.

  New South Wales is Australia's largest State economy. It is larger than the national economies of Singapore, Hong Kong and New Zealand.

• One of the strongest economies in the world
  The Australian economy has grown every year for the past 17.

  Australia is the most resilient economy in the world, according to the IMD World Competitiveness Yearbook 2008.

• Strong investment
  More private investment occurs in New South Wales than in any other Australian State. Investment grew at an average of 10.6 per cent a year in the five years to 2007-08.

• Financial services growth
  The financial services sector has grown faster than any other service sector over the past 10 years. Average annual growth in New South Wales was more than 4.7 per cent between 1997-98 and 2007-08.

The market is easy to access

• It’s easy to set up a business
  Registering a business in Australia is simple, with only two procedures required. In 2008, the World Bank ranked Australia as the most efficient country in the world to start a business

  Australia's straightforward regulatory system means it is easy to establish a new carbon trading business in Sydney.

From Sydney you can service the region

• Asia Pacific regional operations
  Sydney is Australia’s business capital.

  According to IBIS World, New South Wales is home to 45 per cent of the top 500 enterprises in Australia by revenue.

  Sydney is the finance capital of Australia. Of the 57 domestic and foreign authorised deposit-taking banks in Australia, 55 have a presence in Sydney.

  Australia's emissions trading scheme is designed to link with international markets. The Clean Development Mechanism (CDM) is a process under the Kyoto protocol that encourages clean energy projects in developing countries.

  The credits generated by these projects will be accepted for compliance in the CPRS. This presents a new opportunity for the market, particularly for firms with CDM expertise.

  China and India account for more than three-quarters of transactions under the CDM. New Zealand is rolling out a national emissions trading scheme. An Australian base allows your company to service all of these regional opportunities.

  Due to the large volume of greenhouse gas emissions, the Asia Pacific is likely to be the major generator of carbon credits in the medium and long terms.

  
  
• Multilingual skills to service the region
  Almost one-third of people living in Sydney can speak a non-English language. This gives companies great scope to service regional markets from a Sydney office.

  About one in five Sydney residents who speak a non-English language also hold a bachelor degree (or higher). That is a quarter of a million educated, multilingual residents.

  The wide variety of Asian languages has already attracted global firms to set up regional operations in Sydney. The depth of Asian languages allows companies to service multiple CDM projects from a single Sydney office.

  
  
• Time-zone advantage
  Sydney has a time-zone advantage over other Asia Pacific locations. It is the first major financial market to open each day.

  Sydney's market trades ahead of Tokyo, Hong Kong and Singapore.

  Sydney's business day overlaps with the opening of London and the close of New York, giving businesses follow-the-sun opportunities. Carbon market firms can set up joint operations in London and Sydney and service the global market.

  
  

Sydney has a highly educated workforce

• Financial services firms have chosen Sydney as their base
  New South Wales generates more than 44 per cent of Australia's finance and insurance industry income. It is the location of 28 of the top 50 finance companies (by revenue) in Australia.

  Sydney is the headquarters for 80 per cent of foreign and domestic banks in Australia. As a result of this finance cluster, the city has an established pool of financial services skills. These skills, particularly in commodities trading and asset management, allow new carbon finance firms to set up with ease and immediately service opportunities.

  The Australian share market is the seventh largest in the world. Globally, the market has the fourth largest pool of funds under management. The Australian foreign exchange market is the seventh largest in the world and the USD/AUD is the fourth most traded currency pair. Both these markets are in Sydney.

  
  
• Sydney's financial services workforce is half that of London and one-third that of New York
  More than 172,000 people in New South Wales are employed in the finance and insurance sectors.

  The IMD World Competitiveness Yearbook ranks Australia above the United Kingdom and the three largest Asian economies – Japan, China and Korea – for availability of financial services skills.

  Because the NSW Government introduced the Greenhouse Gas Abatement Scheme (GGAS) in 2003, Sydney is already a centre for carbon and environmental market skills. GGAS is the world's second largest carbon market.

  Sydney is home to a number of sectors that have several years of carbon trading experience, such as energy, financial services, legal services, advisory services and accountancy.

  
  
• Quality of life
  Sydney and New South Wales are great locations for businesses and expatriate staff, offering political stability, good amenities, as well as high levels of safety and health care.

  Sydney shared ninth place out of the 215 cities reviewed in the 2007 Worldwide Quality of Living Index compiled by Mercer Human Resource Consulting.