Green scheme down under

Trading of renewable energy certificates (Recs) has been sluggish during the first year of a govement-set renewable energy target in Australia. But with more than double the required number of Recs created during that period and a small amount of derivatives trading on the back of them, the market is expected to grow.

One renewables and emissions trader at an Australian energy company says: �It is very slow at the moment, but as the Recs target ramps up the amount of trading will