NEW YORK, Oct. 17, 2000 (BUSINESS WIRE)à‚–International brokerage house Cantor Fitzgerald has announced the launch of an e-business marketplace that will allow companies to participate in greenhouse gas emissions (GHG) trading.
CO2e.com, LLC is a wholly owned subsidiary of Cantor Fitzgerald Brokerage, L.P. that has been working with PricewaterhouseCoopers, the world’s largest professional services organization, to develop this marketplace.
CO2e.com is designed to serve as business-to-business online resource to understand, mitigate and manage the transition to a greenhouse gas (GHG) constrained future. CO2e.com incorporates a web-based, broker-assisted marketplace for project-based emission reductions.
The trading of commoditized greenhouse gas trading instruments will be powered by interactive B2B marketplace technology company eSpeed, Inc. as they are introduced.
Cantor Fitzgerald and PricewaterhouseCoopers each intend to commit the support of their extensive global businesses to build the market.
Making the announcement in New York, CEO of CO2e.com and Managing Director of Environmental Brokerage Services at Cantor Fitzgerald Brokerage, L.P., Carlton Bartels, said CO2e.com is a world first in the field of carbon commerce.
“CO2e.com builds upon a cornerstone 24-hour Internet trading market place for greenhouse gas emissions offsets to offer a full suite of carbon commerce support, including daily news service, briefings and specialized Web-search engine, decision making and trading tools, and access to a specially recruited group of international consultants and experts.
“Both Cantor Fitzgerald and PricewaterhouseCoopers have solid track records in successfully helping businesses engage in carbon commerce. We have been cooperating on this venture for months and are diligently working to formalize this relationship. … CO2e.com’s trading simulation tools and corporate trading system utilize eSpeed technology, and we anticipate integrating eSpeed’s trading platforms as early as this spring with the proposed launch of the U.K. emissions trading program,” said Bartels.
Steve Drummond, PricewaterhouseCoopers’ Global Leader for Climate Change, Financial Advisory Services, believes the planned alliance will deliver a unique package of knowledge and experience unrivalled in the market.
“CO2e.com brings together the expertise of two key players in the field to expand and simplify carbon commerce for those already involved, and to help newcomer companies participate as efficiently and effectively as possible in what is anticipated to be one of the largest commodity markets in the world,” Drummond said.
CO2e.com’s Internet platform provides businesses with the requisite tools at their fingertips to assess potential obligations and liabilities, design and review flexible mitigation strategies, identify risk, and interact with the global trading market to immediately evaluate the viability of their strategies.
CO2e.com will be officially launched in November at the Sixth Conference of Parties to the United Nations Framework Convention on Climate Change (COP6) in The Hague, Netherlands.
About Cantor Fitzgerald
Cantor Fitzgerald (www.cantor.com) is a global financial services firm, providing a broad spectrum of institutional brokerage and execution services to the financial markets that serve the world’s largest banks and securities houses.
Headquartered in New York City, Cantor Fitzgerald currently employs more than 1,700 people in offices throughout the United States, Canada, Europe and Asia, transacting over $45 trillion annually. The Environmental Brokerage Services (EBS) division of Cantor Fitzgerald Brokerage, L.P. is one of the oldest and one of the largest environmental services group worldwide and pioneered the development of emissions trading.
PricewaterhouseCoopers (www.pwcglobal.com) is the world’s leading professional services organization. Drawing on the knowledge and skills of 155,000 people in 150 countries, we help our clients solve complex business problems and measurably enhance their ability to build value, manage risk and improve performance in an Internet-enabled world.
PricewaterhouseCoopers participation brings specialized expertise in e-business, financing and structuring of energy projects and financial products, risk management solutions to businesses, specialized GHG consultancy and verification of GHG emissions. PricewaterhouseCoopers is one of only a handful of global firms with the capabilities and experience in business processes and environmental solutions to truly provide a comprehensive greenhouse gas advisory service.
PricewaterhouseCoopers refers to members of the worldwide PricewaterhouseCoopers organization.
eSpeed, Inc. operates multiple buyer/multiple seller real-time B2B electronic marketplaces. eSpeed’s suite of marketplace tools provides end-to-end transaction solutions for the purchase and sale of financial and non-financial products via the Internet or over eSpeed’s global private network.
eSpeed currently provides the marketplace infrastructure for more than 35 financial instruments, including most of the world’s fixed income marketplaces. eSpeed transacts over $150 billion of financial instruments daily and is headquartered in New York City. Additional information on eSpeed is available via the Internet at https://espeed.com.