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BIOGRAPHYHenry Derwent is President and CEO of theInternational Emissions Trading Association, the oldestand largest non-profit membership organisation ofcompanies with an interest in carbon pricing, frommany countries and economic sectors. Before joiningIETA in 2008, he had for over 10 years beenresponsible for international climate change, andvariously for domestic climate policy, sustainableenergy, air quality and other environmental and energyissues in the UK Government. Before that again he wasa corporate finance executive in a major investmentbank, working on public-private partnerships.EMISSIONS TRADING065circumstances, shy away from addressing the issueswith the firmness and timeliness needed. And then noamount of repositioning the negotiations between theUNFCCC, the G8, ad hoc meetings of Ministers or top-level debates between world leaders will help us. nABOUT THE INTERNATIONALEMISSIONS TRADING ASSOCIATION(IETA)VISIONIETA is dedicated to:. the objectives of the United Nations FrameworkConvention on Climate Change and ultimatelyclimate protection; .the establishment of effective market-based tradingsystems for greenhouse gas emissions bybusinesses that are demonstrably fair, open,efficient, accountable and consistent acrossnational boundaries; and . maintaining societal equity and environmentalintegrity while establishing these systems. GOALS AND OBJECTIVESIETA will work for: . the development of an active, global greenhousegas market, consistent across national boundariesand involving all flexibility mechanisms: the CleanDevelopment Mechanism, Joint Implementationand emissions trading; . the creation of systems and instruments that willensure effective business participation. To be the premier voice for the business communityon emissions trading, the objectives for theorganisation are to:.promote an integrated view of the emissions tradingsystem as a solution to Climate Change;.participate in the design and implementation ofnational and international rules and guidelines; and.provide the most up-to-date and credible source ofinformation on emissions trading and greenhousegas market activity. Source:

he introduction of the EU EmissionsTrading System has created a challengefor businesses to keep their competitiveadvantage and comply withenvironmental legislation. The Consus Group is at handto help companies re-assess and redevelop theirenvironmental strategies and turn the challenges intofinancial opportunities.The Consus Group was formed to take advantage of theglobal emissions trading system created by the Kyotoprotocol in 1997. However, emissions trading is only thetip of the iceberg, as Consus has much more to say andoffer. It provides a holistic approach to the managementof environmental protection in business, with aparticular emphasis on the financial aspects of it. The Group's areas of expertise include: Emissions management: implementing the rightmonitoring methods and changes in technologicalprocesses that reduce greenhouse gas emissions orgenerate more "green energy".Energy management advice:on the demand side: we helpimprove energy absorption by consumers (WhiteCertificate system); on the supply side: we cover energyproduction from renewable sources, transition to low-emission fuels and cogeneration (combined heatand power), energy import/export and productionlimitations. The Consus Group offers its know-how andmany years of experience to provide businesses withprofessional advice on legal solutions and their impacton business functions. It is a basis on which companiescan assess potential hazards and find ways to limitthem. Armed with a successful combination ofcapabilities and experience of its consultants andtraders, the Consus Group provides a comprehensiverange of services, including: Energy buying costsoptimisation; Environmental audits; Commodity marketdata and analysis; Operations connected with financingpro-ecological initiatives; Energy management systems.Implementation of the Kyoto Protocol objectives: Takingpart in the Clean Development Mechanism and JointImplementation investments in order to obtain CERsand ERUs; investment in CCS limiting emissions;changing heating plants to cogeneration (combinedheat and power). Emissions trading, utilisation ofderivative instruments. This includes spot, forward andswap transactions on OTC exchange and market. Themain goal of this is to collect enough allowances tocount up emissions in enterprise.Weather derivatives: Consus, a pioneer in the Polishweather derivatives market, offers co-operation in the areaof design and implementation of weather protection,which effectively covers all financial losses caused byweather volatility. Risk assessment and training in thefield of weather is Consus's area of expertise. In the field of weather derivatives the Group provides:data essential to weather exposure analysis andconducts analysis; measurement of weather riskexposure - based on the company's financial data andweather data; presentation of risk transfer methods (as well as derivative or insurance) adjusted to acompany's needs, considering budget for hedging.This includes vanilla derivatives, which take intoaccount changes in weather conditions, and quanto-type derivatives, which aim to enhance derivatives'effectiveness and combine price and volumetric riskmanagement; transaction supervision;All analysis carried out by Consus is based on highlyadvanced statistical methods supported by specialisedMANAGING EMISSIONS CAN BE EASY066EMISSIONS TRADINGTTHE CONSUS GROUP