ICE Connect brings together a range of cross-asset real-time data, news and analytics for global markets. The comprehensive platform helps customers manage price and currency risks, and streamline workflows. In addition to UK ETS market data, BEIS will have access to data for UK and European utility markets, including ICE’s benchmark natural gas, power and environmental products.

“As companies and governments continue to adopt net zero carbon policies, we are excited to work with forward-thinking organizations like BEIS as they expand their monitoring and analysis of environmental and utility markets,” said Amanda Hindlian, President of Fixed Income and Data Services at ICE. “Whether it’s through ICE’s futures markets or other innovative offerings - such as our ICE Climate Risk service - we have a robust and growing portfolio of solutions to help measure, evaluate and manage risk in markets affected by the energy transition.”

A leader in environmental markets and indices, ICE was appointed by BEIS to host emissions auctions for the UK Emissions Trading Scheme (UK ETS), which started on May 19, 2021. ICE offers customers access to the largest and most liquid environmental markets in the world. The company’s benchmark energy futures contracts help provide price discovery and risk management for natural gas, power, environmental products and oil markets across Europe and in key regions around the world.

A record 18 billion tons of carbon allowances traded on ICE in 2021, equivalent to an estimated $1 trillion in notional value and equal to over half the world’s estimated total annual energy-related emissions footprint. Reflecting how companies use these markets to manage and price carbon, as well as meet compliance obligations, a record 19 million environmental futures and options contracts traded on ICE in 2021. These traded contracts included a record 15.2 billion EU carbon allowances, a record 2.4 billion California carbon allowances, 346 million Regional Greenhouse Gas Initiative allowances and, following its launch in May 2021, 255 million U.K. carbon allowances.