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 as compared to coal. Currently, the simplest way for power utilities to reduce greenhouse emissions is to convert from coal to gas. Since gas prices have declined in sympathy with oil while coal prices have remained high, power companies in Europe have shifted to burning 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 underneath the last post and add new companies which enter the business of carbon credit trading.

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)