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RBC and the Alberta Emissions Offset Market
RBC Capital Markets recently became the first financial institution
to participate in the Alberta Emissions Offset market. Alberta's
market-based approach to regulating greenhouse gas (GHG) emissions,
launched in July 2007, was the first of its kind in North
America.
RBC CM led a transaction - involving two long-standing, valued
clients - in this offset market. The offsets, created under
the Alberta Environment biomass protocol, were placed with
a proactive Alberta utility. RBC CM continues to build its
energy and commodity trading and marketing initiative, which
includes oil and oil end products, natural gas, power and
carbon trading, with marketers and traders in Calgary, Houston,
Cincinnati and Toronto.
RBCCM helps its clients manage their mandatory and voluntary
carbon emissions needs in Canada, the United States and Europe.
The firm is a General Clearing member and market participant
on exchanges around the world, trading on such exchanges as
the European Climate Exchange (ECX), the Montreal Climate
Exchange (MCeX), the Chicago Climate Exchange (CCX), the NYMEX
Green Exchange and the Regional Greenhouse Gas Initiative
in the Northeastern United States. The firm's emissions trading
group also provides access to over-the-counter (OTC) markets
by acting as counterparty, and accommodates spot and forwards,
as well as various OTC structures.
Helping RBCCM's clients manage their compliance with GHG
regulations is an extension of RBC's longstanding commitment
to the environment. Since 2003, RBC has been a respondent
to the Carbon Disclosure Project (CDP) and is among 67 companies
and one of only 18 financial institutions worldwide named
to the Carbon Disclosure Leadership Index 2008, a prestigious
honour roll of world leaders at understanding and managing
the financial risks and opportunities resulting from climate
change. Among financial institutions, RBC was ranked #1 in
Canada, tied for second both in North America and globally.
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