Dec. 13, 2007 The New York Mercantile Exchange has partnered with Evolution Markets, an environmental products and energy brokerage, to launch a global carbon-credit exchange in the U.S.

The new Green Exchange, set to begin trading in the first quarter of 2008, will list contracts for the billion-dollar U.N. carbon credit market, Reuters reports. It will list Certified Emissions Reductions as well as voluntary emissions reductions credits, which are particularly favored in the U.S. The global market for voluntary credits is estimated at $100 million.

The exchange will be regulated by the U.S. Commodities Future Trading Commission through the NYMEX.