RBC Forges Ahead in Canada’s Fledgling Carbon Market
RBC Capital Markets is moving ahead into Canada’s fledgling carbon market despite the absence of formal government legislation, Reuters reports.
Since RBCCM launched an emissions desk last Spring, the investment bank has become active traders in the EU Emissions Trading Scheme, and in the U.S. Regional Greenhouse Gas Initiative, as well as on climate exchanges in Chicago and Montreal.
Its competitor Toronto Dominion Securities also has a carbon desk. However, the rest of Canada’s five big banks say they have yet to begin trading emissions.
According to Point Carbon, an Oslo-based group of GHG analysts, global carbon trade rose 80 percent last year to $60 billion, and resulted in a global reduction of 2.7 billion tons of carbon emissions.
Energy Manager News
- PACE Financing Makes Progress but Still Encounters Opposition
- Grand View: Datacenter Cooling Market Worth $17.78B by 2024
- Idaho Opens First Solar Farm
- What You Need To Know About Green Insulation: Green Seal’s New Standard
- Obama Administration to Provide Up to $4.5 billion in Loan Guarantees for Electric Charging Stations
- Minnesota PUC Approves New Rate Structure, Size Cap for Solar Gardens
- Maine PUC Endorses Natural Gas Pipeline Expansion at Expense of Ratepayers
- Geothermal Heating and Cooling is Worth Another Look