Isra-Mart srl:Barclays Capital, NRG Power complete California carbon allowance trade

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Isra-Mart srl news:

NEW YORK (AP) – Barclays Capital completed what it said is the first forward trade of carbon allowances under a program created by California lawmakers, the company said Wednesday.

California is developing a cap-and-trade market that would allow the sale of carbon offsets to polluting companies that are unable to reduce their own greenhouse gases or find it too costly to cut emissions. The initiative is slated to begin in 2012.

Under the terms of its transaction, Barclays will receive California carbon allowances guaranteed to be usable for compliance under state law in December 2012, the company said.

The carbon allowances trade was forged under an agreement developed with NRG Power Marketing, a unit of NRG Energy Inc.