Drawing on its pioneering efforts in European emissions markets, Barclays Capital has been instrumental in developing the US emissions markets in the last 12 months, earning it Energy Risk's 2011 US Emissions House of the Year award.

The bank's aim to play an integral role in the development of the US carbon market has been evident in its efforts to develop standardised contract terms for cap-and-trade transactions. It developed a Forward Trade Agreement for federal carbon compliance in early