The
accompanying table presents the MikeHav Global Carbon Trading Stock Index along with tracking of related commodities and benchmark funds -- including coal prices, iPath Global Carbon ETN (GRN), US Natural Gas Fund (UNG), US Oil Fund (USO), and Market Vectors Global Alternative Energy ETF (GEX). Key factors in the demand for carbon credits include overall power demand and the relationship between natural gas and coal prices since burning gas results in the release of less than half of the greenhouse gas emissions versus coal. Currently, the simplest way for power utilities to reduce greenhouse emissions is to convert from coal to gas. Since natural gas prices have declined in sympathy with oil while coal prices have remained high, power companies in Europe have shifted to burning a larger percentage of gas to generate power -- resulting in less greenhouse emissions and less demand for carbon credits. The MikeHav Global Carbon Trading Index is equally-weighted and includes 10 companies which are involved in any aspect of carbon credit generation and/or trading. I will track the index on my blog in the area underneath the last post and add new public-traded companies which enter the business of carbon credit trading. Currently, the only US-listed component of the index is EcoloCap Solutions (OTCBB: ECOS), with the other seven companies listed in London and two listed in Australia.
Camco (London: CAO)
Climate Exchange (London: CLE)
CO2 Group (Australia: COZ)
EcoloCap Solutions (OTCBB: ECOS)
Econergy (London: ECG)
EcoSecurities Group (London: ECO)
Green Invest (Australia: GNV)
Greenko Group (London: GKO)
Low Carbon Accelerator (London: LCA)
Trading Emissions (London: TRE)
$41.5 (08/16/08)
