EFP provides advisory services and focuses on monetizing emission reductions, energy efficiency improvements, and carbon sequestration; as well as managing exposure to diverse financial risks.
EFP acted as an advisor to various early greenhouse gas international transactions. Members of EFP’s team played a leading role in the design and implementation of the SO2 emission allowance market in the United States. The firm also advised several energy companies in North America about how to incorporate integrated emissions management skills into their operations.
EFP principals have authored path-breaking literature in both the academic and popular press proposing specific design features for emissions trading systems worldwide.
Under a grant from the Chicago-based Joyce Foundation and through Northwestern University’s Kellogg Graduate School of Management, EFP was responsible for the feasibility and design studies for the first North American greenhouse gas emissions trading program, the Chicago Climate Exchange. CCX was launched in 2003. In 2004 CCX became a part of Climate Exchange plc (CLE), a London Stock Exchange listed company.
The CLE group also included the European Climate Exchange (ECX), Europe’s leading exchange operating in the European Union Emissions Trading Scheme, and the Chicago Climate Futures Exchange (CCFE), the world’s leading futures exchange for environmental products.
Additional global affiliates included the Tianjin Climate Exchange in China, the Montreal Climate Exchange in Canada, and Envex in Australia. In July 2010, the IntercontinentalExchange (ICE), a leading operator of regulated global derivatives, exchanges, and over-the-counter (OTC) markets, acquired Climate Exchange.