New Values and Sendeco2, two European carbon emissions exchanges, are teaming up with UKPX, a UK-based power exchange, to launch a pan-European spot carbon emissions exchange under the Climex Alliance umbrella group.

The creation of Climex Alliance will see each focus on their domestic market. New Values is Dutch, Sendeco is Spanish and UKPX will focus on the UK, where there is no spot emissions market at present.