AMWatch

Funds that helped drive carbon costs to record high are now selling

Investors have helped drive the cost of polluting to a record in Europe, the world's largest emissions market. Now they are taking some money off the table.

Ulrik Fugmann and Edward Lees from BNP Paribas Asset Management | Photo: PR / BNP Paribas Asset Management

A BNP Paribas Asset Management fund with more than EUR 3bn (USD 3.6bn) under management closed some of its bets on rising carbon prices after a gain of more than 100 percent, according to its co-manager Edward Lees.

Investors slashed their bullish positions on pollution permits by 38 percent from an all-time high in April, exchange data showed.

Read the whole article

Get 14 days free access.
No credit card required.

An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from AMWatch

From utopian to center stage at PFA: "It's a challenge worth a proper fight. And trust me, it is not a walk in the park"

Is it possible to make a 180-year-old Swiss private bank significantly more sustainable in less than two years? Sasja Beslik believes so, having left J. Safra Sarasin to take the over the reins at Denmark's largest commercial pension fund, PFA. Even though only 1.5 percent of PFA's clients have opted for its climate product after more than a year on the market, it shouldn't become the mandatory savings product, he argues.

Further reading

Related articles

Trial banner

Latest news

Jobs

Latest news from FinansWatch (dk)

Latest news from EnergyWatch

Latest news from ShippingWatch