Environmental commodity markets are characterized by fragmented regulatory regimes and subject to frequent mispricings.
Only 15% of global emissions are currently covered by regulated carbon pricing. There are over 40 active different emissions programs across 6 continents at the which creates a massively fragmented global marketplace.
out of balance
Our markets are dominated by emitters including oil producers, refiners, power plants, cement producers who are required to reduce emissions by regulators. The limited participation of financial players due primarily to the complex nature of these markets leads to frequent mispricings.