Climate change, and in particular the role played by greenhouse gases in global warming, is one of the greatest environmental challenges facing the world today. National and international efforts to reduce greenhouse gas emissions have resulted in the implementation of such programmes as the Kyoto Protocol and the European Emissions Trading System.

A common feature of these emission programmes is the underlying «cap and trade» system – a controlling mechanism for achieving the agreed-upon goals in reducing emissions. For the first time, you have the opportunity to participate in emissions trading by means of a new index, the UBS World Emissions Index, and support global emissions programmes in the reduction of global environmental pollution.