• NYMEX to launch RGGI carbon futures contract

The New York Mercantile Exchange, Inc., a subsidiary of NYMEX Holdings, Inc. (NYSE: NMX), today announced that it will introduce a U.S. Regional Greenhouse Gas Initiative (RGGI) carbon allowance futures contract, in the third quarter of 2008, pending regulatory review.

The contract will be available via the CME Globex(R) electronic trading platform and NYMEX ClearPort(R) clearing. When launched, this is expected to be the first exchange-traded contract for compliance with a government cap-and-trade program in the U.S.

CARBON EXCHANGES

• Who will win the global carbon exchange war?  | ICE says Climate to dominate carbon trade

Global exchange wars to dominate carbon markets have heated up as trade builds in emissions reductions and as the United States, the world’s largest energy consumer, moves closer to regulating the gases scientists blame for warming the planet

WORLD BANK

• Press release: STATE AND TRENDS OF THE CARBON MARKET 2008

The report’s data shows that the global carbon market doubled or tripled in value for all segments, except for projects in developing countries which saw a leveling off of market volumes transacted under the Clean Development Mechanisms (CDM)—from 537 million tons of carbon dioxide equivalent (MtCO2e) in 2006 to 551 MtCO2e in 2007. The report’s analysis cautions that market momentum may be at a crossroads for many developing countries just as they are beginning to reap the benefits of carbon finance and are stepping forward to show that they are making efforts to mitigate climate change through advancing clean energy technology. The report shows that the CDM is delivering on clean energy—energy efficiency and renewable energy accounted for nearly two-thirds of the transacted volumes in the project-based market.

CANADA’s KYOTO TROUBLES

• Globa and Mail
• CBC
• The Canadian Press

CONFERENCES

2nd annual Carbon Trading Conference in NYC June 23-25

Some of the leading experts on Carbon Trading including Kjell Olav Kristiansen of Point Carbon, Blake Shaefer of Stark Investments, Martin Whittaker of Mission Point Capital, Rob McAndrew of Chicago Climate Exchange, Karl Rabago, Director of AES, and Graeme Martin of Shell Energy North America among others will present American Investors with an analysis on the recent developments and opportunities in emissions trading and carbon investment strategies at a conference scheduled for June 23-25th in New York.

EU EMISSIONS TRADING PRESS BRIEFING

• Briefing by Pew Center May 7 at 11am in D.C.

The briefing will provide a realistic assessment of the system’s initial objectives and outcomes. The speakers will address common misperceptions of the trading system’s performance, and explore the lessons of the EU-ETS that Congress can draw on as it contemplates an American cap-and-trade system.

CARBON MARKETS

• Survey shows confidence in carbon market drops.  Small number, statistically sig? Doubt it.

73 percent of 102 respondents were confident about the carbon market in 2007, down from 79 percent recorded in the previous two years