New Zealand has been basking above average temperatures this week and most regions are set for a continued hot summer.
But is 2009 going to be the hottest year on record – globally?
Climate change is a hot topic and now, through “virtual stock market” IPredict, it is one you can trade stocks on.
“IPredict is a place where you go to buy and sell stocks that pay out depending on which way future events go,” says IPredict CEO Matt Burgess.
Today, IPredict launched two climate change stocks asking “will 2009 be warmer than 2008?” and “Will it be the warmest year ever?”.
“The most a trader can spend on IPredict at any one time is US$1000. But the average amount that traders put on is about $50,” says Mr Burgess.
Burgess says having money involved often prompts people to do some research, rather than just guess. He says it is quite different from gambling.
“We first of all are authorised by the Securities Commission as a futures trader. That means people are buying and selling futures stocks, and that is quite distinct – at least in law – from the tab.”
This is the site’s first science question having focussed on politics and the economy since it started last October.
Potential traders must be in New Zealand, over the age of 18 and be able to trade at least $5.
Climate change expert Martin Manning says there’s a lot of variation from year to year in the average temperature of the planet.
He says while trading systems will not change the way climate science is done – it can help scientists.
“If still half way through the year people are jumping all over the place and thinking “no we're still going to be colder/and we're going to be warmer” then that will tell me something about how non-scientists think about the issue and that will then help scientist’s communicate what we know, and don't know.”
Traders should know the results by the middle of next January.
3 News