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Barclays launches first exchange-traded note linked to carbon

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Barclays Bank has launched the iPath Global Carbon Exchange Traded Note, billed as the first exchange-traded note to offer investors exposure to the global price of carbon, on the NYSE Arc

Barclays Bank has launched the iPath Global Carbon Exchange Traded Note, billed as the first exchange-traded note to offer investors exposure to the global price of carbon, on the NYSE Arca stock market. Barclays says it has created the investment vehicle to meet investors’ growing appetite for exposure to greenhouse gas prices.

The new iPath ETN is linked to the Barclays Capital Global Carbon Index Total Return, which tracks the performance of the most liquid carbon credits associated with the world’s major greenhouse gas emissions trading plans and is designed to become a global industry benchmark for carbon-related investing.

Currently the index includes two plans, the European Union Emissions Trading Scheme and the Kyoto Protocol’s Clean Development Mechanism. Eligible plans are selected from the growing universe of tradable carbon credits and are regularly reviewed for inclusion.

‘The global carbon arena has the potential to become one of the world’s largest commodities markets and we are pleased to offer investors exposure to this growing market,’ says Philippe El-Asmar, head of solution sales for the Americas at Barclays Capital. ‘The launch of this product underscores the importance of our environmental markets business and providing clients with access to harder-to-reach markets.’

Barclays has also launched ten other iPath ETNs designed to offer exposure to sub-indices of the Dow Jones-AIG Commodity Index Total Return, linked to aluminium, cocoa, coffee, cotton, lead, platinum, precious metals, soft commodities, sugar and tin. The ETNs have a 30-year maturity and are senior unsecured, unsubordinated debt securities issued by Barclays Bank, linked to the performance of a market index.

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