Barclays Capital has bought a stake in a Canadian company that reduces greenhouse gas emissions as the Chicago Climate Futures Exchange, the US environmental derivatives market, increased access to its products in anticipation of greater volumes.

Global carbon emissions trading volumes should reach €25bn ($37bn) by the end of this year, more than double the level of two years ago, according to Celent, a Boston-based research and consulting firm. Celent has predicted a surge in volumes to €40bn by 2012 if retail investors enter the market.