The Green Exchange launching in 2008: December 17, 2007.

Author:Scheer, Roddy
Position:THIS WEEK - Trading marketplace - Brief article
 
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NYMEX Holdings and Evolution Markets have formed a consortium of some of the nation's leading financial institutions to launch the Green Exchange, a commodities trading marketplace in which U.S.-based companies could buy and sell the right to emit carbon dioxide and other environmental pollutants. While participation in the new exchange (which opens for business in 2008) is strictly voluntary--companies can buy and sell so-called environmental options only if it makes sense for them--the mechanism could be used in the future if reducing emissions becomes the law, as several bills making their way through Congress now propose.

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"Leveraging financial markets is an essential part of addressing environmental challenges such as global warming, and The Green Exchange is the right financial marketplace at the right time," says Andrew Ertel of Evolution Markets. "We've identified a set of contracts that address climate change, encourage renewable energy development...

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