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Thursday 8/10/2009 Page: 4
THE Australian Securities Exchange plans to list new renewable energy futures and options contracts on its exchanges to support the Federal Government's renewable energy target (RET) scheme. The stock and futures exchange operator said the new contracts would support the RET scheme, designed to ensure that 20% of Australia's electricity comes from renewable sources by 2020. ASX also plans to list certified emission reduction futures and options contracts in the first quarter of 2010. These securities are designed to service the requirements of prospective compliance entities in Australia and New Zealand, as well as investors and developers involved in clean development projects.
Subject to the passage of the proposed carbon pollution reduction scheme legislation, ASX also intends to list futures and options on Australian emission units. The introduction of the three types of contracts will enable market participants to manage market risk and make investment decisions about climate change and related government policies, ASX said yesterday. "The listing of these products will help firms in Australia and New Zealand to facilitate carbon trading, finance and investment, as well as to provide related risk and legal advisory services," it said in a statement. There are more than 80 clean technology companies with a combined market capitalisation of more than $10.5 billion listed on ASX boards.
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