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While many people lie, consciously or subconsciously, during questionnaires, they tend to tell the truth if there's the chance to make a quick profit. That's why we're so interested in Betfair's new plan to take bets on climate change -- it could give a very accurate insight into how the public think the environment is being affected by, well, the public.
The online betting company is going to allow people to speculate on various measures of climate change, including the HSBC Investable Climate Change Index, the ECX CFI Futures Contract (Europe's emissions market) and highest and lowest UK temperatures.
"Whilst these climate markets are experimental, they demonstrate a commitment to use our assets to innovate and make a difference," says Mark Davies, Betfair's managing director of corporate affairs.
Any profit that is made on the bets will be invested in technologies to tackle climate change, the company claims. They've also said that they will aim to reduce their carbon footprint per pound of revenue by 30 per cent by 2010.
"We recognise that the day-to-day running of our operations has an effect on the local, regional and global environment and it is therefore our responsibility to manage this impact," says Davies.
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