Emissions broker Evolution Markets has brokered the first trade of European Union Emissions Trading Scheme (EU ETS) emissions allowances (EUAs) for delivery post-2012.
The landmark trade is between Morgan Stanley and fund manager RNK Capital. Under the terms of the transaction 50,000 EUAs for delivery in December 2013 were sold for E20.05 per tonne.
The transaction marks the first trade of EUAs beyond the first commitment period of the Kyoto Protocol, which ends in 2012. The world community is