The Article 6 rules that create the foundation for a global market for trading carbon credits come after six years of work and attempts to get a framework off the ground, reports Financial Times.
The creation and passage of the global carbon market is anticipated to drive even greater demand for carbon credit producers as well as those operating within allowances markets.
The fund’s benchmark is the IHS Markit Carbon EUA Index, an index that tracks the most-traded EUA futures contracts, a market that is the oldest and most liquid for carbon allowances.
The fund’s benchmark is the IHS Markit Carbon CCA Index, an index tracks the most-traded CCA futures contracts, a market that encompasses roughly 80% of California’s greenhouse gas emissions and has also covered Quebec’s emissions since it expanded in 2014.