Wednesday, October 22, 2008

The great Carbon cash in

Some good Guardian reporting. There is something distasteful going on here given the current crisis. The fact that Stern has a financial involvement is also a little unnerving.

The carbon cash-in [Guardian]

Fresh from the devastation they have wrought on the global financial system, some of the world's leading investment banks meet in London today to discuss how they can "cash in" on carbon. But at least delegates and speakers at the Cashing in on Carbon conference are open about not trying to reduce emissions or helping the environment. Oh, no. This event is to see how "investment banks can profit today from an increasingly diverse range of carbon-related investment opportunities". Particularly reassuring is the emphasis on "hybrid and complex carbon credit structured products", and how to identify investor demand for them in the US; "derivative/synthetic carbon products"; and "sub-index arbitrage strategies". Also, we can refresh our knowledge of the basic options for "productising carbon" and of "access channels for producers ... speculators, proprietary traders and investors". Good to see that execs from Lord [Nicholas] Stern's company, IDEAcarbon, will be there, too.

Here is a link to IDEAcarbon.

IDEAcarbon is an independent and professional provider of ratings, research and strategic advice on carbon finance. Our services are designed to provide leading financial institutions, corporations, governments, traders and developers with unbiased intelligence and analysis of the factors that affect the pricing of carbon market assets.

The IDEAcarbon team are leading experts in the carbon and energy markets. We combine policy and financial intelligence with proprietary tools for the analysis of credit risk. Our techniques assist our clients to manage and mitigate risk in today's uncertain global carbon markets.

IDEAcarbon's market intelligence is analytically rigorous and politically astute. Working with the key decision makers who are shaping the future of the market enables us to accurately predict market trends and provide tailored strategic advice to clients. Sophisticated analytical tools enable us to deliver reliable credit ratings for carbon projects in any country of the world. This provides carbon market participants with the ability to optimize carbon portfolio construction and manage market volatility.

IDEAcarbon's mission is to improve the functioning and efficiency of the carbon markets. Our ratings and opinions are unencumbered and independent - we do not trade, buy, sell or originate carbon credits. IDEAcarbon has a strategic alliance with IDEAglobal, a world leader on market intelligence and analysis on global financial markets, with offices in London, New York and Singapore.

Our products include credit ratings and risk analysis, strategic advice, and market intelligence.

A picture of Stern himself.


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