The London markets have embraced emissions trading according to new figures. The London Energy Brokers Association (LEBA) has revealed a 149% increase in the past two years.
The figures show the number of metric tonnes (MT) of emissions reduction traded by members of the LEBA in the EU emissions trading system.
In 2009, LEBA brokers traded 490 million MT in the Carbon Emissions Reduction market, an increase of 133% on 2008’s 210 million MT. This rose to 523million MT in 2010, representing an overall 149% increase since 2008.
Alban Brindle who compiled the LEBA figures said: “The Certified Emission Reduction (CER) market is a reduction of emission, which could for example mean planting a forest or using a dam. The EU Allowance market instead trades in emission allowance, a certification to pollute.”
LEBA member companies include APX-ENDEX,GFI Brokers, Spectron Group, Tullett Prebon Energy, Evolution Markets, ICAP Energy and Tradition Financial Services.