Envex is a company which develops
financial instruments
Financial instruments are monetary contracts between parties. They can be created, traded, modified and settled. They can be cash (currency), evidence of an ownership, interest in an entity or a contractual right to receive or deliver in the form ...
for electricity trading and
emissions trading
Emissions trading is a market-oriented approach to controlling pollution by providing economic incentives for reducing the emissions of pollutants. The concept is also known as cap and trade (CAT) or emissions trading scheme (ETS). One prominen ...
under the
Clean Energy Bill 2011 and other environmental markets in Australia.
History
The company was founded in February 2008 as a joint venture between
Macquarie Group Limited and the Financial and Energy Exchange. In July of the same year
Climate Exchange PLC, owner of the
European Climate Exchange and the
Chicago Climate Exchange
The Chicago Climate Exchange (CCX) was a voluntary, legally binding greenhouse gas reduction and trading system for emission sources and offset projects in North America and Brazil.
CCX employed independent verification, included six greenhous ...
, acquired a stake in Envex. Following the purchase of the European Climate Exchange by ICE, ICE also became the holder of Envex.
The core focus of Envex's work is to develop tradable contracts for
Over-the-Counter
Over-the-counter (OTC) drugs are medicines sold directly to a consumer without a requirement for a prescription from a healthcare professional, as opposed to prescription drugs, which may be supplied only to consumers possessing a valid pres ...
and
exchange-based trading to "enable trading in a range of environmental products" in the Australian markets.
[Carr signs up to Global Carbon Market]
Sydney Morning Herald
19 Nov 2008 These include financial instruments related to the underlying units of the
Mandatory Renewable Energy Target
Mandatory renewable energy targets are part of government legislated schemes which require electricity merchandisers to source-specific amounts of aggregate electricity sales from renewable energy sources according to a fixed time frame. The object ...
scheme, the
Carbon Price Mechanism ( also known as the
Clean Energy Bill 2011), the Queensland Gas Scheme, Victorian Energy Efficiency Target and South Australian Energy Savings Scheme.
Current Board Members
* Brian Price, Non Executive Director
* Dimitri Burshtein, Non Executive Director
* David Peniket, Non Executive Director
See also
*
Carbon Pollution Reduction Scheme
The Carbon Pollution Reduction Scheme (or CPRS) was a cap-and-trade emissions trading scheme for anthropogenic greenhouse gases proposed by the Rudd government, as part of its climate change policy, which had been due to commence in Australia i ...
*
Emissions Trading
Emissions trading is a market-oriented approach to controlling pollution by providing economic incentives for reducing the emissions of pollutants. The concept is also known as cap and trade (CAT) or emissions trading scheme (ETS). One prominen ...
*
Mandatory renewable energy targets
*
New South Wales Greenhouse Gas Abatement Scheme
External links
Envex Official websiteCarbon Pollution Reduction Scheme website
References
{{reflist
Financial services companies established in 2008
Financial services companies of Australia