Climate Exchange Doubles Profit

16 September 2009 (Last Updated September 16th, 2009 18:30)

Carbon emissions exchange operator Climate Exchange has reported a first-half profit with trading volumes rising 96% year-on-year, according to a report by news agency Reuters. Climate Exchange owns and runs carbon trading marketplaces in Europe, the US and Asia, including the European

Carbon emissions exchange operator Climate Exchange has reported a first-half profit with trading volumes rising 96% year-on-year, according to a report by news agency Reuters.

Climate Exchange owns and runs carbon trading marketplaces in Europe, the US and Asia, including the European Climate Exchange (ECX).

Interest has peaked in shares in the exchange – which closed on Tuesday at 863 pence – in the lead up to the Copenhagen UN climate change talks, which could spur carbon trading through a new climate bill.

The exchange reported a £1.5m pre-tax profit against a loss of £0.3m during first half of 2008.

In the first half of the current financial year the ECX traded 2.685 million contracts, almost equivalent to the amount traded for 2008.

Moderate growth rates have been predicted for the second half of the year, however, due to regulatory and political uncertainty.