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Leaders in fast-growing
environmental markets revealed
London, 17 December: Environmental Finance
magazine has published the results of a survey asking readers
to vote for the best brokerage firms, trading desks and advisors
involved in environmental markets and weather derivatives
trading (click here for the full results).
More than 500 companies participated in the survey, which
asked respondents to nominate the preferred service providers
across a range of environmental markets including US sulphur
dioxide and nitrogen oxide allowances; renewable energy certificates;
weather derivatives; and the range of markets in greenhouse
gas (GHG) allowances, spawned by the Kyoto Protocol on climate
change.
The response to the 5th annual survey conducted by the magazine
– the leading global publication covering environmental
markets – was double that of the previous year. This,
in large part, was due to the recent ratification of the Kyoto
Protocol by Russia, which means that the climate change agreement
enters into force next year. The Protocol creates a number
of markets in carbon credits, to help companies and governments
meet emission reduction targets from 2008.
However, there is already significant trading activity ahead
of the January launch of the EU ETS – which imposes GHG
emissions targets on more than 5,000 companies. Analysts expect
this market to be worth billions of euros in 2005.
Shell was voted Best Trading Company in both the EU market
and the older UK ETS. New York-based environmental brokerage
Evolution Markets won the title of Best Broker, EU ETS.
CO2e – a subsidiary of US financial broking giant Cantor
Fitzgerald – won the Kyoto Projects category, which covers
markets in carbon credits created by the Protocol's novel
Joint Implementation and Clean Development Mechanism programmes.
Specialist UK-based environmental consultancy EcoSecurities
won the Best Advisory Service award in several GHG markets,
while Baker & McKenzie was voted Best Law Firm, and Norway's
Det Norske Veritas took the title of Best Verification/Certification
Agency.
In the older US emissions markets – which are designed
to address acid rain-causing sulphur dioxide and smog-forming
nitrogen oxides, the broker honours were divided between Natsource,
Cantor Environmental Brokerage (also part of Cantor Fitzgerald),
Evolution Markets and United Power.
In weather derivatives – a market designed to help companies
manage the effects of weather on earnings – insurance
giant Swiss Re was voted best dealer in North America and
Europe. In Asia, that title was shared by GuaranteedWeather,
a Kansas City-based weather risk management company and its
partner in the region, Mitsui Sumitomo Insurance. TFS, part
of France-based Viel, was voted Best
Broker in all three regions.
Some of the same winners in the emissions categories also
won polls in the emerging markets in green certificates –
tradeable certificates designed to help promote renewable
energy generation. Evolution Markets took top honours in the
North American market, while Natsource won in UK Renewable
Obligation Certificates. Finland's Greenstream Network was
voted best broker for European (ex-UK) markets.
The results of the survey appeared in the December/January
print issue of Environmental Finance magazine, a monthly
publication which examines the financial impact of environmental
issues on international business.
The survey was conducted via e-mails sent to more than 1,500
companies worldwide. Respondents were asked to cast their
votes on the basis of: efficiency and speed of transaction;
reliability; innovation; quality of information and service
provided; and influence on the market, not just the volume
of transactions handled.
GHG Emissions
| US Emissions | Weather
Derivatives | Renewable Energy
Certificates
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