Green surge gives carbon trade hub its first profit
Thursday 17 September 2009
Carbon passed a milestone on the road to acceptance as a tradeable commodity yesterday as the Climate Exchange recorded its first ever profit.
The company – which runs the European Climate Exchange in London and its US counterpart – recorded a near-doubling in volumes in the first half, pushing it to pre-tax profits of £1.5m compared with last year's £300,000 loss.
The market for "green" products is taking off, boosted by schemes such as Europe's emissions trading scheme and the multi-state Regional Greenhouse Gas Initiative in the US.
Climate Exchange trading volumes came in some 96 per cent higher in the first six months of this year than last. The jump was sharpest in Europe, where the half-year total of 2.7bn tonnes was up by more than 250 per cent year on year. In the US, trading also more than doubled.
But despite the strong growth, there is considerable uncertainty in such a young market. Both the Copenhagen global climate change conference in December and the impact of Barack Obama's Climate Bill with have a significant impact on the group in the coming months, Richard Sander, the executive chairman, said.
"Both Europe and the US are going very well," Mr Sander said. "But we face near-term uncertainty from Copenhagen and also from the legislative stance of the cap and trade programme in the US."
Children's bookseller wins The Independent's new author search
Board creates magnetic field to achieve lift
Company reveals $542m investment in start-up building 'a rocket ship for the mind'
- 1 Jack the Ripper: Scientist who claims to have identified notorious killer has 'made serious DNA error'
- 2 Banksy arrest hoax: Internet duped by fake online report claiming artist's identity has been revealed
- 3 Former East 17 frontman Brian Harvey turns up at Downing Street and 'demands to speak to Prime Minister'
- 4 The inventor of the Facebook 'like' button says he never made a 'dislike' button because he feared the 'unfortunate consequences'
- 5 Russell Brand threatened with arrest after filming outside Fox News headquarters
Jack the Ripper: Scientist who claims to have identified notorious killer has 'made serious DNA error'
Oscar de la Renta dead: Legendary US fashion designer dies after long cancer battle aged 82
Oscar Pistorius: The brutal prison life that awaits disgraced athlete
Banksy arrest hoax: Internet duped by fake online report claiming artist's identity has been revealed
Super-sized ships arrive in Britain: How big can they get?
Cameron is warned 'no possibility' of UK reducing immigration and that bid to bring in quota on migrant workers would be illegal
Residents should throw a street party and mix with immigrant neighbours, councils told
Russell Brand threatened with arrest after filming outside Fox News headquarters
London bus driver 'kicks gay couple off for kissing'
Lord Freud: Tory welfare minister apologises after saying disabled people are 'not worth’ the minimum wage
Lord Freud hangs on as MPs of all parties 'call for his head' over disability comments
iJobs Money & Business
£23000 per annum + pension and 22 days holiday: Ashdown Group: An established ...
£27000 per annum + pension, 22 days holiday: Ashdown Group: An established ind...
£23000 - £26000 Per Annum: Clearwater People Solutions Ltd: Our client is curr...
£25 - 30k: Guru Careers: A Corporate Actions Administrator / Operations Admini...