With a growing commitment among energy companies to tackle climate change, open interest across Intercontinental Exchange Inc.’s (ICE) environmental complex reached a record high last week.

The environmental complex, which includes futures and options connected to ICE’s European and California Carbon allowances, Regional Greenhouse Gas Initiative and renewable energy credits, hit record open interest of about 2.65 million contracts last Thursday (Nov. 12).

An operator of global exchanges and clearing houses, ICE said the number of participants trading its carbon markets has grown by more than 40% since 2017. North America-based participants were the strongest contributor to the growth, increasing by more than 70% since 2017. The number of participants trading both European...