Friday, April 24, 2009

Carbon Trade: Swiss Re closes emissions trading desk

The players are jockeying for position.
From Reuters:
Swiss Re (RUKN.VX) has closed its carbon emissions trading desk, a spokesman said on Friday....

...Several financial institutions including Credit Suisse (CSGN.VX), Bank of America (BAC.N), and Tullett Prebon have trimmed carbon trading or carbon project origination operations in the past year or so.
In addition, one of the most vocal proponents of cap-and-trade, while pursuing their broader strategic vision:
Lehman Brothers shuts carbon trading desk (LEH)
(that post was dated September 16, 2008, the day after the bankruptcy filing)

And in a deal where Warren Buffet has had investments on both sides:
Goldman Sachs Buys Constellation Energy's Carbon Trading Operation (CEG; GS)