Marubeni concludes CER transaction on ECX as first Japanese Company.
Marubeni Corporation
Mar 17, 2008
Marubeni Corporation (“Marubeni”) announced today that, as the first Japanese Company, it concluded transactions in CERs (Certified Emission Reduction units – emissions credit under the Kyoto Protocol) on the opening date ,of ECX’s CER futures contract. The European Climate Exchange (ECX) is the world’s largest exchange for trading emissions.
ECX launched trading in futures contracts for EUAs (EU Allowances – emissions credits under the EU Emissions Trading Scheme) in April 2005 and volumes has since increased dramatically: in 2007, 981 million tonnes of EUAs traded. More than 80 major European and international companies are members of ECX.
ECX launched its CER futures contract on March 14th 2008 and it is estimated to stimulate interest in emissions trading both globally and within the existing EU market.
Marubeni joined ECX in September 2007 in order to enhance its capabilities in procurement and supply of emissions credits. Marubeni is taking measures to tackle global warming issues and explores various procurement and supply sources of emissions credits in order to meet the market’s diversifying needs.
