envex Cli l m i a m t a e t E e xc x han a g n e g e Plc l. (. C ( LE.L. )

Transcription

1 Climate Exchange Plc. (CLE.L) envex

2 Chicago Climate Exchange Plc. (CLE.L) Tianjin Climate Exchange

3 CO CO 2 Emissions Contracts 2 Emissions Products European Climate Exchange EUA Futures and Options CER Futures and Options Chicago Climate Futures Exchange RGGI Futures and Options CCAR CRT Futures and Options CFI-US Futures and Options CFI Futures and Options Chicago Climate Exchange CFI (Spot) Vintages

4 Global Carbon Emissions growing over 35 billion metric tons Global Carbon Emissions (Billion Metric Tons) Rest of World, 8.0 Europe, 5.0 Australia, 0.5 Japan, 1.4 United States, 7.2 Russia, 2.0 India, 3.0 China, Chicago Climate Exchange

5 ECX Open Interest ECX Open Interest Growth ICE ECX Futures + Options Open Interest Growth CER Options EUA Options CER Futures EUA Futures 900,000, ,000, ,000, ,000,000 Tonnes CO2 2e 500,000, ,000, ,000, ,000, ,000,000 0 Date

6 EUA and CER Price History EUA and CER Historical Prices EUA price CER price

7 CCFE Open Interest CCFE Weekly Open Interest Growth Since , ,000 SFI RGGI RECS CCFE Open Interst (co ontracts) 120, ,000 80,000 60,000 40,000 NFI-OS NFI-A IFEX ECO-CE ECFI DJSI-W CFI CER CCAR-CRT 20, Jan-07 5-Apr-07 5-Jul-07 5-Oct-07 5-Jan-08 5-Apr-08 5-Jul-08 5-Oct-08 5-Jan-09 5-Apr-09 5-Jul-09 5-Oct-09 *as of 10/16/09 7

8 RGGI: 1 st Mandatory Carbon Market in U.S. Exhibits Dramatic Growth 50,000 CCFE RGGI Open Interest Growth 45,000 40,000 35,000 30,000 RGGI Options RGGI Futures 25,000 20,000 15,000 10,000 5,000 - *As of 10/16/2009

9 CCFE Dec-09 V09 Historical RGGI Prices $6.00 $5.50 $5.00 $4.50 $4.00 RGGI December Clearing Price: $3.38 RGGI June Clearing Price: $3.23 $3.50 $3.00 $2.50 $2.00 RGGI September Clearing Price: $3.07 RGGI March Clearing Price: $3.51 RGGI September Clearing Price: $2.19

10 Chicago Climate Exchange Plc. (CLE.L) Dec-13 CFI-US Historical Prices $14.00 $13.00 $12.00 $11.00 $10.00 $9.00 $8.00

11 CCX CCX Membership Highlights Membership Highlights Represents 17% of the Dow Jones Industrials, including: Bank of America DuPont Intel IBM United Technologies Represents 11% of the Fortune 100, including: Ford Motorola Safeway International Paper Honeywell International Inc. Represents 20% of the largest CO 2 emitting utilities in the US, including: AEP Mirant Reliant Dynegy Allegheny Energy TECO DTE Alliant NRG Energy American Electric Cooperative, Inc 2008 Chicago Climate Exchange

12 CCX and CFI Historic Volumes (metric tons) CFI Historic Volumes (metric tons) ADV CCX (contracts) , , Million (metric tons) Options Futures Cash Chicago Climate Exchange *As of close 10/9/2009

13 4/12/2009 6/12/2009 8/12/ /12/2008 2/12/2009 CCX CFI Historic Price Chart CCX CFI Prices $8.00 $7.50 $7.00 $6.50 $6.00 $5.50 $5.00 $4.50 $4.00 Price $3.50 $3.00 $2.50 $2.00 $1.50 $1.00 $0.50 $ /12/2003 2/12/2004 4/12/2004 6/12/2004 8/12/ /12/ /12/2004 2/12/2005 4/12/2005 6/12/2005 8/12/ /12/ /12/2005 2/12/2006 4/12/2006 6/12/2006 8/12/ /12/ /12/2006 2/12/2007 4/12/2007 6/12/2007 8/12/ /12/ /12/2007 2/12/2008 4/12/2008 6/12/2008 8/12/ /12/ Chicago Climate Exchange *As of close 09/04/2009

14 U.S. Climate Change Legislation June 26, 2009, the House of Representatives passes H.R AMERICAN CLEAN ENERGY AND SECURITY ACT OF 2009 ( ACES ) September 30, 2009, Senators John Kerry (D-MA) and Barbara September 30, 2009, Senators John Kerry (D-MA) and Barbara Boxer (D-CA) introduced the CLEAN ENERGY JOBS AND AMERICAN POWER ACT

15 Major Provisions Reduction Targets: %, % and % below 2005 levels Emission Coverage: 66% of U.S. in 2012; 84.5% in 2016 Project Offsets: 2 Billion split 50/50 Domestic and International Types include: Ag soils, forestation and forest management, nitrogen management, methane capture, livestock management and other ag practices, coal mine methane, landfill methane, capture of emissions from nat gas and oil systems Early Action Provisions After January 1, for 1 crediting January 1, 2001 January 1, 2009 crediting based upon 1/06 1/09 average price

16 CO 2 Price Estimates EPA $13/mt in 2015 and $16/mt in 2020 CBO $16/mt in 2012 and $26/mt in 2030 EIA $32/mt in 2020 and $65/mt in 2030 W/M $10/mt auction min; $28/mt Strategic Reserve min CCFE-CFI-US DEC2013 $10.55/mt

17 Key Legislative Drivers Obama Administration priority EPA Regulatory Threat Litigation Copenhagen, December 6, 2009 Regional Programs

18 Most importantly, the House of Representatives passed an energy and climate bill in June that would finally make clean energy the profitable kind of energy for American businesses and dramatically reduce greenhouse gas emissions. One committee has already acted on this bill in the Senate and I look forward to engaging with others as we move forward. We understand the gravity of the climate threat. We are determined to act. And we will meet our responsibility to future generations. President Obama s Speech on Climate Change to U.N. General Assembly (09/22/2009)

19 Rob McAndrew Chicago Climate Exchange