Finance Feeds logo

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.

Subscribe

Read this next

Financewire

Kinesis Mint becomes the official partner for the House of Mandela

Kinesis Mint, the certified independent precious metals mint and refinery of Kinesis, the monetary system backed by 1:1 allocated gold and silver, has been appointed the exclusive coin producer for the House of Mandela.

Photo of Nelson Mandela
Chainwire

Kadena Announces Annelise Osborne as Chief Business Officer

Kadena, the only scalable Layer-1 Proof-of-Work blockchain, expands its leadership team by onboarding Annelise Osborne as Kadena’s new Chief Business Officer (CBO).

Image of a woman with the citate
Fintech

TNS brings full-stack market data management to EMEA

“We are also delighted to have Ben Myers join our London-based TNS Financial Markets team as Head of Strategic Sales for EMEA, to bolster our presence in the region.”

Chainwire

Velocity Labs and Ramp Network facilitate fiat to crypto onramp on Polkadot via Asset Hub support

Velocity Labs is proud to announce a fiat to crypto onramp using Ramp Network through the integration of Asset Hub. Through it, Ramp will be able to service any parachain in the Polkadot ecosystem.

Symbol of Ramp network
Executive Moves

INFINOX hires Mayne Ayliffe as Global Head of HR

“I look forward to working with our teams around the world to develop a strategic HR agenda that supports high performance and is centred on human motivation.”

Mayne Ayliffe joins INFINOX
Fintech

Sterling to provide risk and margin support for fixed income

“Firms must have the tools to effectively manage their risk across all asset classes. As yields rise, we see more exposure from clients in the fixed income space. We understand their need to measure and mitigate risk in a highly regulated environment.”

Retail FX

FXOpen launches HK share CFDs: Tencent, Alibaba, Xiaomi, Baidu

Hong Kong share CFDs will be commission-free for a limited period of time.

Retail FX

IronFX Celebrates an Award-Winning Start to 2024 with a Series of Industry Recognitions

IronFX, a global leader in online trading, has embarked on 2024 with a spectacular display of accolades that highlight its commitment to excellence and innovation in the competitive financial services sector.

Industry News

FIA urges CFTC to regulate use cases rather than AI itself

“We urge the CFTC to refrain from crafting new regulations that generally regulate AI because this approach presents certain well-known pitfalls. By approaching the issue from the perspective of AI as a technology, rather than the use case for the technology, corresponding regulations would likely necessitate a definition of AI. We anticipate that any attempt to properly define AI would be very challenging and require considerable resources.”

<
✖