Carbon compliance markets
Winds from the west
A raft of MOUs and price cuts during the past 18 months shows the determination of US exchanges to gain a foothold in Asian markets. But are Asian investors ready for their products? By James Ockenden
Editor
"Even advocates of the screen must concede that some of the colour has gone out of the City of London"
Jeff Rosenzweig
Evolution Markets’ gas and power desk has grown strongly since it was set up six months ago. Joe Marsh talks to its managing director, Jeff Rosenzweig
IPE-ECX carbon futures contract faces fierce competition
London’s International Petroleum Exchange (IPE) and the Amsterdam-based European Climate Exchange (ECX) are set to offer CO 2 futures contracts under the EU Emissions Trading Scheme (ETS).
Powernext selects Trayport for emissions trading, awaits CO 2 allocation
French electricity exchange Powernext will use software supplier Trayport’s Global Vision platform for CO 2 emissions trading, but is still waiting to start the spot emissions market it first announced in January.
A shift in perspective
As far as the electricity market is concerned, the EU emissions trading scheme is aimed only at the generation side of the market. But end users also affect carbon emissions levels. This could represent a missed opportunity. Here, Oliver Rix, Phil Grant…
Greenpeace protest at IPE fuels debate on emissions trading
Greenpeace’s invasion of London’s International Petroleum Exchange (IPE) on Wednesday was intended to draw attention to the environmental impact of ‘big oil’ on the day the Kyoto Protocol came into force. However, by attacking an exchange that is about…
UK broker trade group to launch emissions indexes
The London Energy Brokers’ Association (Leba) will launch a series of ‘green indices’, which it says are designed as independent benchmarks for the European emissions market. The association will release both spot and forward indexes, with the aim of…
If the cap fits...
Legal compliance seems the only way to achieve cuts in carbon dioxide emissions. Europe is leading the way, but the US is some way from a similar approach, despite a regional initiative sparking some interest. Joe Marsh reports
European Commission sues over emissions-trading legislation
The European Commission is taking legal action against Greece, Italy, Belgium and Finland for not fully transposing the emissions-trading directive into national law by December 31, 2003. Separately, Italy will receive a final written warning because it…
European partnership plans emissions trading market
Pan-European exchange operator Euronext plans to launch an emissions trading market in March 2005 in conjunction with French electricity exchange Powernext and French state-owned investment bank Caisse des Dépôts et Consignations.
A Kyoto windfall
Heavy polluters needing to reduce emissions under new EU legislation may find a solution in the developing world under Kyoto’s Clean Development Mechanism. Stella Farrington reports
Open for business
The EU Emissions Trading Scheme began this month, but much of the success of the fledgling carbon market will hinge on the behaviour of the 5,000 small companies who make up the bulk of the market. By Stella Farrington
Powering prices
The UK supplies the lowest priced power in Europe, and its Department of Trade and Industry wants to keep it that way. So it has published a report uncovering how the European Emissions Trading Scheme will affect power prices across Europe. By James…
The ETS law is an ass
Consultant Chris Cook offers a sceptical view of the development of European emissions trading, and suggests a new global energy solution based on an alternative to the financial market paradigm
Editor
“With a peaceful mind I face all the crimes alleged against me; I blame myself for errors made...”
James Cameron
As the EU steps up efforts to tackle climate change through the EU ETS, James Cameron, CEO of Climate Change Capital, talks to Stella Farrington
Pay as you go
It is going to be a hard day at the office for Joe Risk Manager. The risk management committee might welcome his new risk charge system, but how would the traders take it? By Brett Humphreys and David Shimko
EnBW starts reporting CO 2 trades to EEX
EnBW Trading today became the eighth company to report its carbon emission trades to the European Energy Exchange (EEX) for the exchange’s CO 2 price index. EnBW Trading is a subsidiary of Karlsruhe-based German utility EnBW Energie Baden-Württembergin.
London to be world carbon market centre
The UK’s early move into carbon emissions trading means London is now well placed to become a world centre for the emerging carbon market, UK Environment Minister Elliot Morley said Wednesday.
Static emissions price “does not reflect fundamentals”
The European emissions trading market, with its static price over the last four to five weeks, “is not a good market,” and does not reflect fundamentals, said Chris Rowland, managing director of utilities research at Dresdner Kleinwort Wasserstein.
EEX to launch spot carbon contract
German-based electronic exchange European Energy Exchange (EEX) is to launch a spot contract to trade EU carbon emissions allowances in January 2005.