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LONDON, Jan 10 (Reuters) - UBS has launched an index to give investors exposure to the impact of carbon
emissions on global temperatures, the Swiss investment bank said on Thursday.
The UBS Greenhouse Index will lock into contracts on the Chicago Mercantile Exchange, the European Climate Exchange and on the Nordic exchange Nord Pool.
"UBS's clients have shown an increasing interest in environmental investments which are innovative and alternative,
yet simple to access," Andy Felce, managing director and co-head of structured products at UBS said in a statement.
The index will have a governing committee that will meet each year to decide the composition and weighting of the new index and its three related sub-indices.
In April 2007, UBS launched its Global Warming Index to offer a tradable benchmark in the weather derivative market, one of many indexes launched by banks in response to 2012 emissions targets set by the Kyoto Protocol for fighting climate change.
(Reporting by Golnar Motevalli; Editing by James Jukwey)
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