The European Climate Exchange hosted the trading of its two billionth tonne of carbon dioxide of this year on Friday October 10, as it continues to enjoy rapid growth. Volume for 2008 to date has now doubled last year’s total.
This is only the exchange’s fourth year in existence. Trading in 2005 totalled 95m tonnes, with each contract worth 1,000 tonnes of carbon dioxide. Some 450m tonnes were traded in 2006, and last year, just...