KRX, BlueNext Seek Carbon Trading Tie-up

BlueNext is established in France in January 2008 by Euronext and Caisse (French state bank). It is a carbon emissions market and Euronext owns 60 percent of stake in BlueNext. BlueNext is looking forward to expand more of their business to North America and Asia. It currently has 73 members from the fields of energy, finance and environment to trade. They are selling products such as EUA (European Union Allowances) on the market and have plans to come up with a new product called CER (Certified emission reductions).
The (KRX) Korea Exchange and BlueNext are considering of building partnership on the development of a carbon trading market in Korea. The partnership could be in the form of an alliance through cross-shareholdings. Another way is developing emission credit products for listing. The reason is that both sides are hoping to build a trading platform that allows domestic firms to buy and sell carbon credits abroad through BlueNext. KRX is seeking to establish a carbon trading market before 2013. They want to be ahead of other Asian markets such as Hong Kong, Japan and China. Currently, Korea is the world’s 10 largest emitter of carbon dioxide. Both KRX and BlueNext want to discuss more on the establishment of a carbon trading market. Samsung Economic Research Institute noted that carbon trading market is expected to reach 150 billion dollars worldwide by 2010. The world’s biggest carbon market, Europe, is accounting 80 percent of total trading.

http://koreatimes.co.kr/www/news/biz/2008/04/123_22272.html

20620042 - entry #4