The index tracks the two largest carbon emissions markets: the European Union Emissions Trading Scheme, EU ETS, and the UN’s Kyoto-agreement-based Clean Development Mechanism, CDM. As of June 2009, the index had a market cap of about $4 million—a drop in the global $8-billion ETN bucket.
Richard Couzens, who heads product origination in Barclays' investor solutions group, admits the ETN is small but “with moderate trading volumes it's certainly attracted quite a bit of interest, especially since it represents an alternative, uncorrelated investment solution and references a sector that that we believe will continue to grow.”
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