Global banks are pushing hard into the emissions trading space with several opening new trading desks while others are expanding rapidly to address the growing global greenhouse gas emissions market.
Over the past several months major financial institutions pledged environmental clean-ups and launched brokerage services in arguably the fastest growing commodity in the world - emissions credits. The World Bank estimates that global carbon markets topped $30bn last year, up from $11bn in 2005 when carbon exchanges such as European Climate Exchange (ECX) opened in April 2005.
"The financial sector has really embraced the European carbon markets," said Peter Koster, chief...