Energy & Emissions Markets

<body stylesrc="../_private/template_title.htm" topmargin="10" leftmargin="10" bgcolor="#FFFFFF" link="#333366" vlink="#000000" alink="#000000"> <div align="left"> <table border="0" cellspacing="0" style="border-collapse: collapse" bordercolor="#111111" width="100%" cellpadding="0" id="table4"> <tr> <td width="780" align="center"> <div align="center"> <table border="0" cellpadding="5" cellspacing="0" height="206" style="border-collapse: collapse" bordercolor="#111111" width="100%" id="table5"> <tr> <td align="right" height="198" width="1%"> <p align="left"> <img border="0" src="../images/book_james_and_fusaro_(2006).jpg" width="132" height="200"></td> <td valign="top" align="left" height="198"> <table border="0" cellspacing="1" style="border-collapse: collapse" bordercolor="#111111" cellpadding="0" id="table6"> <tr> <td colspan="3" width="0%"> <p class="book_title">Energy & Emissions Markets</td> </tr> <tr> <td width="1%" class="book_details_tags" valign="top" height="16" align="left"> <img border="0" src="../images/blank_2x2.gif" width="2" height="2"><img border="0" src="../images/blank_2x2.gif" width="2" height="2"></td> <td width="52%" class="book_details_tags" valign="top" height="144" align="left" rowspan="9"> <map name="FPMap6"> <area href="../main/ratings.htm" shape="rect" coords="70, 0, 162, 33"> </map> <img border="0" src="../images_title/james_21.gif" usemap="#FPMap6" width="185" height="175"></td> <td class="book_details" height="112" align="center" width="50%" rowspan="7"> <map name="FPMap5"> <area target="_top" href="http://www.riskbook.com/link_topic/best_of_2006.htm" shape="rect" coords="0, 0, 124, 108"> </map> <img border="0" src="../images/best_of_award_2006.gif" width="125" height="109" usemap="#FPMap5"></td> </tr> <tr> <td width="1%" class="book_details_tags" valign="top" height="16" align="left"> </td> </tr> <tr> <td width="1%" class="book_details_tags" valign="top" height="16" align="left"> </td> </tr> <tr> <td width="1%" class="book_details_tags" valign="top" height="16" align="left"> </td> </tr> <tr> <td width="1%" class="book_details_tags" valign="top" height="16" align="left"> </td> </tr> <tr> <td width="1%" class="book_details_tags" valign="top" height="16" align="left"> </td> </tr> <tr> <td width="1%" class="book_details_tags" valign="top" height="16" align="left"> </td> </tr> <tr> <td width="1%" class="book_details_tags" valign="top" height="16" align="left"> </td> <td class="book_details" height="32" align="center" width="50%" rowspan="2"> </td> </tr> <tr> <td width="1%" class="book_details_tags" valign="top" height="16" align="left"> </td> </tr> </table> </td> </tr> </table> </div> <table border="0" cellpadding="10" cellspacing="0" style="border-collapse: collapse" bordercolor="#111111" width="468" id="table7"> <tr> <td> <script type="text/javascript"></script> <script type="text/javascript" src="http://pagead2.googlesyndication.com/pagead/show_ads.js"> </script> </td></tr> </table> <table border="0" cellpadding="5" cellspacing="0" style="border-collapse: collapse" bordercolor="#111111" width="100%" id="table8"> <tr> <td width="50%" valign="top"> <p align="left" class="body"><strong style="font-weight: 400">The oldest emissions trading market is the United States' SO<font size="1">2</font> market that has operated since 1995. It and the more recent NO<font size="1">X</font> market have been hailed as enormous successes. There are other emissions markets emerging in the United States, but the big initiatives today are the markets developing overseas in response to the Kyoto agreement. Futures are already traded on emissions. Banks see potential in these markets and are actively trading them.</strong></p> <table border="0" cellpadding="0" cellspacing="0" style="border-collapse: collapse" bordercolor="#111111" width="125" align="left" id="table9"> <tr> <td width="120"> <script type="text/javascript"></script> <script type="text/javascript" src="http://pagead2.googlesyndication.com/pagead/show_ads.js"> </script> </td><td width="5"> </td> </tr> </table> <p align="left" class="body"><strong style="font-weight: 400">Green trading is similar to emissions trading. It occurs in jurisdictions that require a certain fracton of energy to be generated from green sources, such as hydro or solar. Generators can actually generate the green energy themselves, or they can buy credits from other generators who do.</strong></p> <p align="left" class="body"><strong style="font-weight: 400">This book by James and Fusaro is the definitive guide to these emerging markets. It walks readers through the policy issues, history, function and legal frameworks of these markets. It advises on risk management for market participants and gives a reasonable assessment of where the markets are headed.</strong></p> </td> <td width="50%" valign="top" class="body" rowspan="2"> <table border="0" cellpadding="0" cellspacing="0" style="border-collapse: collapse" bordercolor="#111111" width="100%" id="table10"> <tr> <td width="100%" bgcolor="#333366"> <p class="header_yellow" align="center">Contents</td> </tr> <tr> <td width="100%" class="explanatory_text"> <table border="1" cellpadding="0" cellspacing="5" style="border-collapse: collapse" bordercolor="#CCCCFF" bgcolor="#CCCCFF" width="100%" id="table11"> <tr> <td class="contents_expanded"> <p class="contents_compressed" style="margin-top: 5px; margin-bottom: 5px"> 1. Setting the Stage for Collision or Convergence </p> <p class="contents_compressed" style="margin-top: 5px; margin-bottom: 5px"> 2. The Birth of the Global Emissions Markets. </p> <p class="contents_compressed" style="margin-top: 5px; margin-bottom: 5px"> 3. Green Trading Schemes </p> <p class="contents_compressed" style="margin-top: 5px; margin-bottom: 5px"> 4. Global Trading Schemes </p> <p class="contents_compressed" style="margin-top: 5px; margin-bottom: 5px"> 5. Market Mechanisms for Reducing Emissions </p> <p class="contents_compressed" style="margin-top: 5px; margin-bottom: 5px"> 6. Overview of Carbon Exchanges </p> <p class="contents_compressed" style="margin-top: 5px; margin-bottom: 5px"> 7. Carbon Collides With Power—The European Experience </p> <p class="contents_compressed" style="margin-top: 5px; margin-bottom: 5px"> 8. Legal Agreements for Emissions Trading</p> <p class="contents_compressed" style="margin-top: 5px; margin-bottom: 5px"> 9. Green Power Trading. Developments and Opportunities</p> <p class="contents_compressed" style="margin-top: 5px; margin-bottom: 5px"> 10. What Risk? An Introduction to Managing Risk</p> <p class="contents_compressed" style="margin-top: 5px; margin-bottom: 5px"> 11. Risk Policy Guidelines</p> <p class="contents_compressed" style="margin-top: 5px; margin-bottom: 5px"> 12. Managing Financial Risk for the Environment</p> <p class="contents_compressed" style="margin-top: 5px; margin-bottom: 5px"> 13. Investment Opportunities in Emissions</p> <p class="contents_compressed" style="margin-top: 5px; margin-bottom: 5px"> 14. Broader Issues for Business</p> <p class="contents_compressed" style="margin-top: 5px; margin-bottom: 5px"> 15. What the Future Holds</p> <p class="contents_compressed" style="margin-top: 5px; margin-bottom: 5px"> Appendices</td> </tr> </table> </td> </tr> </table> <p align="left" class="body"><strong style="font-weight: 400">I like this book because it assumes no prior knowledge. Readers can pick up this book knowing nothing about emissions trading and come away with a deep understanding of the markets and their regulatory underpinnings.</strong></p> <p align="left" class="body"><strong style="font-weight: 400">The book includes 200 pages of appendices including full text of key documents such as the Kyoto Agreement and ISDA Master Agreement.</strong></p> <p align="left" class="body"><strong style="font-weight: 400">If there is a shortcoming of the book, it is writing that tends to be long-winded and repetitive. This is a small price to pay for such an accessible, informative and comprehensive book. I highly recommend it. </strong><b>[December 14, 2006]</b></p> <p align="center" class="body"> </p> </td> </tr> <tr> <td width="50%" valign="bottom"> <table border="0" style="border-collapse: collapse" width="100%" cellpadding="0" id="table12" bgcolor="#FFFFFF"> <tr> <td colspan="2" height="12"> <p style="margin-top: 0"> </td> </tr> <tr> <td align="right"> <p align="left" style="margin-bottom: 2px"> <a target="_top" href="http://www.riskexpertise.com/link/advertising.htm"> <font size="1" color="#000000" face="Arial">Ads by Contingency Analysis.</font></a></td> <td align="left"> <p align="right" style="margin-bottom: 2px"> <a target="_top" href="http://www.riskexpertise.com/link/advertising.htm"> <font size="1" color="#000000" face="Arial">Advertise on this site.</font></a></td> </tr> <tr> <td align="center" colspan="2">  <iframe src="http://servedbyadbutler.com/adserve/;ID=147917;size=300x235;setID=94524;type=iframe" allowtransparency="true" background-color="transparent" style="margin: 0px; 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margin-left:10"><b><font color="#333366" size="3"> For related books, see sections.</font></b></p> <p class="body" style="margin-bottom: 5; margin-top:5; margin-left:10"> <img border="0" src="../images/bullet.gif" width="20" height="10"><a target="_top" href="../link_topic/markets_industries_emissions_trading.htm">Markets - Emissions Trading</a></p> <p class="body" style="margin-bottom: 5; margin-top:5; margin-left:10"> <img border="0" src="../images/bullet.gif" width="20" height="10"><a target="_top" href="../link_topic/markets_industries_energy_power.htm">Markets - Energy & Power</a></p> </td> </tr> </table> </td> </tr> </table>  <table border="0" style="border-collapse: collapse" width="100%" cellpadding="0" id="table1" bgcolor="#FFFFFF"> <tr> <td colspan="2" height="12"> <p style="margin-top: 0"> </td> </tr> <tr> <td align="right"> <p align="left" style="margin-bottom: 2px"> <a target="_top" href="http://www.riskexpertise.com/link/advertising.htm"> <font size="1" color="#000000" face="Arial">Ads by Contingency Analysis.</font></a></td> <td align="left"> <p align="right" style="margin-bottom: 2px"> <a target="_top" href="http://www.riskexpertise.com/link/advertising.htm"> <font size="1" color="#000000" face="Arial">Advertise on this site.</font></a></td> </tr> <tr> <td align="center" colspan="2">  <iframe src="http://servedbyadbutler.com/adserve/;ID=147917;size=300x250;setID=93136;type=iframe" allowtransparency="true" background-color="transparent" style="margin: 0px; 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