Euro Greedheads Carbon Cash-In
Eco soundings by John Vidal, The Guardian, October 22 2008 [here]
Fresh from the devastation they have wrought on the global financial system, some of the world’s leading investment banks meet in London today to discuss how they can “cash in” on carbon. But at least delegates and speakers at the Cashing in on Carbon conference are open about not trying to reduce emissions or helping the environment. Oh, no. This event is to see how “investment banks can profit today from an increasingly diverse range of carbon-related investment opportunities”. +
Particularly reassuring is the emphasis on “hybrid and complex carbon credit structured products”, and how to identify investor demand for them in the US; “derivative/synthetic carbon products”; and “sub-index arbitrage strategies”. Also, we can refresh our knowledge of the basic options for “productising carbon” and of “access channels for producers … speculators, proprietary traders and investors”. Good to see that execs from Lord [Nicholas] Stern’s company, IDEAcarbon, will be there, too.