IDB Icap has executed the first OTC compliance carbon allowance transaction in the US, and hopes it will be the first of many.
The allowances traded were part of the Regional Greenhouse Gas Initiative (RGGI) - a 10-state programme for north-eastern states officially beginning in January 2009. RGGI's first auction of allowances is scheduled for June 2. Icap's trade follows the RGGI offset agreement brokered by Evolution Markets in June 2007.
Icap executed the groundbreaking transaction between ECOS