The carbon market wheels keep on turning slowly
Not so wonderful Copenhagen? December’s climate meeting in the Danish capital is widely considered to have achieved little, with the US and China reluctant to commit to the UN process on carbon emissions
Much was expected but little emerged from the climate talks in Copenhagen late last year. Moreover, with debate in the US focused on financial regulatory reform, discussion about the cap and trade system got pushed back. In Europe, market participants are worried about the move from government-allocated carbon credits to market auctions. The carbon world is not where it wanted to be. Writer Jim Kharouf
