The Kyoto Protocol is coming up on its expiration date and world leaders are eager to ratify a new global agreement on climate change. An upcoming conference may provide the push toward invigorating the green industry and related exchange traded funds (ETFs).

The Copenhagen Climate Conference on Dec. 7 in Denmark is expected to finalize terms of an agreement to reduce greenhouse gas emissions that will be effective after the Kyoto Protocol expires at the end of 2012, writes Haider Rizvi for Environment News Service. (Sector Highlight: Green Energy).

Richer countries are urged to donate a minimum of $10 billion to “kick-start immediate action” to mitigate the consequences of climate change and to aid developing countries in combating the effects of severe weather. Additionally, industrialized countries are also encouraged to offer targets for greenhouse gas reductions after 2012. (Ways to play Obama’s energy plan).

Danish Prime Minister Lars Loekke Rasmussen believes that the international summit on climate change in Copenhagen will likely deliver a binding political agreement that would pave the way for an international treaty to be agreed upon, reports Alessandro Torello for The Wall Street Journal.

The European Union has set a goal of constraining global warming at two degrees Celsius  compared with pre-inudstrial temperatures. (Surprising source of green energy growth).

For more information on green energy, visit our green ETFs category.

The Cap and Trade exchange traded note (ETN) or other green energy ETFs may stand to benefit from the increased awareness in global climate change.

• iPath Global Carbon ETN (NYSEArca: GRN): down 16.7% year-to-date

• PowerShares WilderHill Clean Energy (NYSEArca: PBW): up 17.4% year-to-date

• PowerShares Global Clean Energy (NYSEArca: PBD): up 26.6% year-to-date

• First Trust NASDAQ Clean Edge Green Energy (NYSEArca: QCLN): up 25.7% year-to-date

Tags: Alternative Energy, Cap-and-Trade, Global ETFs, Green ETFs, GRN, ICLN, PBD, PBW, QCLN, Socially Responsible ETFs