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Carbon Emissions Trading: What it Means for Individual Investors

In: International Financial Markets

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  • Valeria Martinez

Abstract

This study examines the investment opportunities available for individual investors in the carbon emissions market. Volume, investment correlations, location of trade, return volatility, and price discovery are examined for the Barclays carbon emissions exchange traded note (ETN) launched in July of 2008 and traded in U.S. markets. Our main findings indicate this new type of asset evidences diversification benefits for individual investors. Its main source of volatility and price discovery is the underlying European futures carbon market.

Suggested Citation

  • Valeria Martinez, 2014. "Carbon Emissions Trading: What it Means for Individual Investors," Frontiers of Economics and Globalization, in: International Financial Markets, volume 13, pages 165-178, Emerald Group Publishing Limited.
    • Handle: RePEc:eme:fegzzz:s1574-8715(2013)0000013014
    DOI: 10.1108/S1574-8715(2013)0000013014
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    More about this item

    Keywords

    Carbon emissions; correlation; exchange traded note (ETN); exchange traded fund (ETF); volatility; G11; G14;
    All these keywords.

    JEL classification:

    • G11 - Financial Economics - - General Financial Markets - - - Portfolio Choice; Investment Decisions
    • G14 - Financial Economics - - General Financial Markets - - - Information and Market Efficiency; Event Studies; Insider Trading

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