Market Making In Environmental Commodities

As market mechanisms emerge to help address carbon and other climate-related commodities, we are looking for ways to play a constructive role in facilitating the efficient development of these markets.

For example, we have been a market maker in carbon credits, participating in the EU Emission Trading Scheme from its inception. We have also facilitated transactions in weather derivatives, renewable energy credits and other climate-related commodities.

We continue to evaluate opportunities and, where appropriate, inform the development of and participate in markets for water, biodiversity and other ecosystem services. For example, we are a member of the Advisory Board of the Natural Capital Project, a non-governmental organization that uses a science-based approach and software tools to quantify and value services provided by natural systems for key decision makers.