ICE launches new index designed to track and benchmark global price of carbon

Maria Nikolova

The new ICE Global Carbon Futures Index is made up of pricing from the three most actively traded carbon markets in the world.

International operator of exchanges and clearing houses and provider of data and listings services Intercontinental Exchange, Inc. (NYSE:ICE) today announced the launch of a new index designed to track and benchmark the global price of carbon. The launch of the index marks an important step in the efforts to measure and reduce the emission of carbon dioxide (CO2) and other pollutants in economies around the world.

The new ICE Global Carbon Futures Index is made up of pricing from the three most actively traded carbon markets in the world: the European Union Emissions Trading Scheme (EU ETS), which started in 2005, the California Cap and Trade Program, which started in 2013 and the Regional Greenhouse Gas Initiative (RGGI), which was established in 2009. These markets represent some of the largest regional economies in the world, and the secondary futures market for those programs, which trade on ICE’s futures markets. Together these markets make up the majority of volume in all carbon-based futures contracts.

The ICE Global Carbon Futures Index provides a volume weighted average price and measures the performance of a long-only basket of ICE EUA Futures Contracts, ICE California Carbon Allowance Futures Contracts and ICE Regional Greenhouse Gas Initiative Futures Contracts. It is calculated in USD and calculated throughout the day.

ICE has also launched carbon price indices for each of the constituent markets: the ICE EUA Carbon Futures Index, ICE CCA Carbon Futures Index and ICE RGGI Carbon Futures Index. The ICE EUA Carbon Futures Index will be calculated and published in EUR and the other indices will be calculated and published in USD.

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