GRN offers exposure to global carbon markets as represented by a Barclays index that measures the performance of emissions unitsEuropean Union Allowances (EUAs) and Certified Emission Reductions (CERs)issued under the European Union Emission Trading Scheme and Kyoto protocol. The index consists of all carbon futures contracts with an open interest greater than zero. Each contract is weighted by its proportional individual volume contributed to the total combined volume of all eligible contracts. The index rebalances annually on November, and exits exposure to contracts expiring in the upcoming Decemberrolling its exposure to futures contracts expiring in the next December. It is worth mentioning that while the index is calculated in USD, the components are denominated in euros.
