Carbon compliance markets
European emissions trading on track
The EU emissions trading scheme is on track to start in January 2005, with the European Commission having approved 16 out of 25 of the EU member National Allocation Plans that lie at the heart of the scheme, said Peter Vis, acting head of the Industrial…
Chicago Climate Exchange approved to trade futures
The Chicago Climate Futures Exchange (CCFE) obtained approval from the US Commodity Futures Trading Commission (CFTC) last week to trade emissions futures contracts.
EEX launches daily CO 2 price index
The European Energy Exchange (EEX) will from today publish a reference price for the trade in CO 2 certificates throughout Europe on each trading day. The move comes in preparation for the European Union emissions trading scheme (ETS), which will start…
Peabody promotes head of US coal and emissions trading
Missouri-based coal company Peabody Energy has promoted Raphael Pierce to vice-president of trading at its Peabody Coaltrade subsidiary. He will continue to head up US coal and emissions trading, but with added responsibilities.
Auction advances
The Commonwealth of Virginia in the US has just completed an innovative auctionof nitrogen oxide emissions credits thanks to advice from Amerex and George MasonUniversity. Paul Lyon reports
CCX and IPE team up to offer EU emissions contracts
The Chicago Climate Exchange (CCX) and the International Petroleum Exchange (IPE) today signed an agreement to list cash and futures contracts in European Climate Exchange carbon financial instruments (ECX CFIs) on the IPE. Greenhouse gas emissions…
Evolution looks west with Unger
Evolution Markets is expanding to provide brokerage services to the California emissions trading markets. Leading the company’s efforts in San Francisco is Samantha Unger, one of the California emissions markets’ most experienced brokers.
Dealing in doubt
Scepticism still surrounds the EU’s National Allocation Plans for theEuropean Emissions Trading Scheme (ETS) starting in January 2005. IvanO’Toole discusses the cost implications of the Kyoto Protocol for the EU power industryand anticipates a few…
Seb Walhain
Fortis Bank’s Seb Walhain is surprised that more financial institutionsaren’t involved in the European emissions trading scheme. By Paul Lyon
EC fails emissions scheme, says E&Y director
The European Commission’s failure to challenge eight EU national allocation plans undermines Europe’s ability to meet its carbon dioxide emissions reduction targets agreed under the Kyoto Protocol according to Ernst & Young’s director of emissions…
Banks make first Isda emissions trade
Investment banks Dresdner Kleinwort Wasserstein and Fortis Bank have made the first ever trade of European Union emission allowances (EUAs) using an annex to the International Swaps and Derivatives Association (Isda) Master Agreement.
Europe unprepared for emissions trading
The European Emissions Trading Scheme (ETS) will not begin on time, and will fail to deliver the promised results, according to a survey by Ernst & Young.
EU emissions trading to see moderate start, says survey
Companies expect emissions trading to experience a “moderate start” in the European Union (EU), before seeing a steady increase in volumes. This was the conclusion of a recent survey carried out by the Leipzig-based European Energy Exchange (EEX) and 3C,…
EU adopts linking directive...
The European parliament has given the thumbs-up to the so-called linking directiveallowing companies within member states to benefit from emissions projects outsideof the EU. By James Ockenden and Paul Lyon
Governments face carbon allocation legal action
European governments face legal action from industry if they fail to provide carbon allocation plans by the end of the year, according to Peter Vis of the climate change unit of the European Commission.
EU adopts linking directive for emissions trading
The European parliament today voted to adopt the directive linking the European Union emissions trading scheme to other trading systems and CO2 reduction projects. The parliament agreed on a text for the linking directive earlier this month.
European companies outline concerns over emissions trading
Corporates are expressing concern at the ramifications of the European UnionEmissions Trading Scheme – just as EU member states finalise their nationalallocation plans. By Paul Lyon
Norway's Statoil sets up emissions trading unit
Norwegian energy company Statoil has formed a unit for trading carbon dioxide emissions. The Oslo-based firm said: “The Norwegian emissions trading regime will govern Statoil’s involvement in the purchase and sale of carbon quotas.”
Rethinking Kyoto
A long-awaited debate on the Kyoto Treaty has begun in Europe. Just how muchwill it cost industry and the EU economy? Long-term Energy Risk contributor MariaKielmas gives her views on the latest developments
Emission control
Bakony Power’s Hungarian Ajka plant needed a vital upgrade, but bank loansand bond issues were not forthcoming. Now forward sales of carbon credits havegiven the plant a death-row pardon. By James Ockenden
US coal trading picks up steam
While the coal market awaits pricing indexes to reinvigorate trading, emissions trading is getting a boost from increased coal burning. Catherine Lacoursière reports
US pushes agreement on carbon storage research
The US government has launched an international research and development programme to reduce power plant emissions by pumping carbon dioxide (CO2) into deep storage.
Carbon across Europe
Pan-European emissions trading is a step closer after agreement of an EU directive. Atle Christiansen and Kristian Tangen of Point Carbon look at the consequences