Environment-Renewables
Carbon complexities
The EU ETS adds price complexity to European energy markets and the trend towards pan-European markets means far more complex models will be needed to model carbon risk, writes Bjorn Brochmann
Editor's letter
Surely in this post-Enron, Sarbanes-Oxley world it was now safe to go back in the water?
Off to a flying start
Aviation is one of the fastest growing sectors in terms of carbon emissions, but a move by the European Commission to include airlines in the EU's Emissions Trading Scheme has alarmed some in the industry
Counting on coal
NRG Energy's move to buy Texas Genco seems a wise one for a company with strong dark-spread exposure, but it has its risks, despite the target company being backed by an active hedging programme. Joe Marsh reports
A new sweet spot
Soft commodities
Risk and responsibility
Corporate governance
Beyond long only
Hedge funds
Katrina sparks model rethink
Demand for catastrophe bonds is unlikely to wane following the impact of Hurricane Katrina in August, despite question marks raised about hedge funds' appetite for taking on catastrophe risk in the aftermath of the disaster.
UKPX to launch carbon spot contract on Climex
London-based energy exchange UKPX will co-operate with Dutch emissions exchange New Values to launch a UKPX spot contract for carbon emissions certificates.
Standard Bank invests in biodiesel
South Africa-based Standard Bank has entered the biodiesel sector with an $8 million equity investment in Biodiesel Energy Trading (BET).
HSBC is first major bank to go ‘carbon neutral’.
HSBC has reduced its net CO2 emissions to zero by reducing energy use, buying ‘green’ electricity and then offsetting the remaining CO2 emissions by investing in carbon projects.
Raising the standard
Growth in energy trading has led to a need for better standardisation of contracts and integration of exchanges and trading hubs. But more needs to be done to simplify and streamline the trading process, says Wolfgang Ferse
Taking the screen test
Screen trading is spreading faster than ever in the energy markets and market dynamics are changing as a result. Do interdealer brokers in the market see this advance as a threat or an opportunity? Stella Farrington finds out
Finance and faith
Islamic shari’a law may prohibit interest, but far from discouraging investment, shari’a-compliant structured project finance looks set to grow – particularly in the energy arena, as Maria Kielmas reports
Shelter from the storm
Energy companies are showing increased interest in hurricane derivatives, a specialist product that can provide an additional layer of protection on top of insurance. Joe Marsh reports
Katrina sparks model rethink
New angles
Clearing the air
Emissions trading
EEX to launch carbon derivatives contract
The European Energy Exchange (EEX) plans to launch a futures contract for carbon emissions allowances in October, pending regulatory approval.
Next-generation credit derivatives - A market forum
Credit Derivatives
China opportunity knocks
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