NYMEX to list East Coast CO2 contract on Aug 24

NEW YORK, July 28 (Reuters) - The New York Mercantile Exchange Inc NMX.N will launch a futures contract on Aug. 24 for the greenhouse gas market developing in 10 U.S. states.

The contracts will represent reductions of the greenhouse gas carbon dioxide in the Regional Greenhouse Gas Initiative. The states have pledged to reduce carbon emissions at power plants by 10 percent below 1990 levels by 2018.

The contract will be available on the CME Globex electronic trading platform. Off-exchange transactions can be cleared through the NYMEX ClearPort.

RGGI plans to launch quarterly auctions of allowances on September 25. (Reporting by Timothy Gardner)