Tuesday, March 30, 2010

"HSBC Ejects Carbon Traders From Index" (CLE.L; TRE.L)

Goldman Sachs owns 19% of Climate Exchange Plc. wich in turn owns the Chicago Climate Exchange founded by a friend of President Obama, Richard Sandor.
Links below.
From the New York Times' Green Inc. blog:

The banking giant HSBC removed two companies involved in carbon trading from its Climate Change Index on Monday because they had lost too much value.

Analysts from HSBC said the cause was mainly that governments had failed to come up with a timetable for a global climate deal at the United Nations summit in Copenhagen in December.

“Carbon trading was the major loser from Copenhagen,” HSBC analysts said in their March 21010 Quarterly Index Review. “Cap and trade needs hard targets and binding rules – and Copenhagen delivered neither,” HSBC said.

The two companies ejected were Climate Exchange and Trading Emissions. Both companies are based in the Isle of Man and listed on the London Stock Exchange.

Climate Exchange owns the European Climate Exchange, the Chicago Climate Exchange and the Chicago Climate Futures Exchange. The chairman of Trading Emissions, Neil Eckert, is also the chief executive of Climate Exchange.

Among companies joining the index were Renesola, a solar manufacturer with a heavy focus on China listed on the London Stock Exchange, and Universal Display, a United States-based lighting manufacturer listed on Nasdaq....MORE

Carbon market clouded by uncertainty

Jan. 27, 2010
Zeitgeist: "Davos Dialog Will Downplay Carbon, Talk Up Energy And Infrastructure"

Jan. 27, 2010
Carbon Markets Are Under ‘Dark Cloud,’ Merrill Says

Jan. 29, 2010
Carbon Traders Quit Emissions Market Amid Drop in Demand (JPM)

Feb. 8, 2010
How big is the threat to carbon trading? (CAO.L)

March 1, 2010
Sorry Carbon Traders, Your Time has Come and Gone

March 1, 2010
Sorry Carbon Traders, Your Time has Come and Gone, part II: "Carbon Market Under Existing U.S. Law Not Likely, Xcel Says" (XEL)

March 3, 2010
"Hopes for $2 trillion global carbon market fade" and "Ecosecurities to shutter US office" (JPM)

"The Stakes of Carbon Trading Are Losing Their Sizzle" (CAO.L; GS: JPM)

Carbon Trading: How to (Maybe) Make Money Out of Thin Air: And One of my Favorite Carbon Cowboy Quotes
...But the exchange acknowledges that on some of those outside projects, it is authorizing the sale of credits for cleanups that had been performed anyway. Richard Sandor, the exchange's chairman, says that doing so rewards "early action" and encourages other landfills to capture methane too.

Mr. Sandor says the exchange's main goal is to help develop a commodity that has financial value under any possible future U.S. law that to regulates greenhouse-gas emissions. The debate over whether or not a polluter would have cut its greenhouse-gas emissions without the financial incentive of credit sales is "quite interesting, but that's not my business," Mr. Sandor says. "I'm running a for-profit company."...

Richard Sandor, Barack Obama and the Founding of the Chicago Climate Exchange (CLE.L)

US Presidential Election & Carbon Markets: Is The Climate Exchange Story Overdone? (CLE.L)

The Greening of Wall Street

CARBON KING: Economist Strikes Gold In Climate-Change Fight

Pollution Credits Stoke Trader Hiring Wave at Banks