INTRODUCING THE HISTORY OF ENVIRONMENTAL TRADING: GORDON BENNETT OF ICE

To kick off The History of Environmental Trading video series from John Lothian News and MarketsWiki Education, we interviewed Gordon Bennett of Intercontinental Exchange in ICE’s London headquarters during IDX week in early June. Bennett, an ICE managing director of utility markets, sat in the front reception area of ICE’s offices, underneath the prominent ICE logo answering questions about the history of environmental markets for the interview. This is the first episode in a new series from John Lothian News that is part of our MarketsWiki Education initiative. The series is funded by the GoFundMe campaign JLN has run over the last couple of years, for which Trading Technology has matched contributions. The series is part of a larger initiative at John Lothian News to expand its ESG-related coverage. We started talking about Bennett’s history with environmental markets and then asked him about the successful SO2 auction program that ran at the Chicago Board of Trade in the 1990s. Bennett was asked about who is in the environmental markets as well as what products are traded. He was asked what drives the price fluctuations of environmental markets. Bennett was an investor in the Green Exchange in his role at Marex before he joined ICE, so we asked him about the Green Exchange. We asked him about the messaging he is using with the products. Some environmental trading is mandated. We asked about that. We asked what happens when we buy a carbon credit and whether there are any tax credits for using these products. Finally, we asked him about the latest new environmental product from ICE. The next video in The HIstory of Environmental Trading will be our interview with InCubex CEO Neil Eckert. Look for that to come soon.