Free Republic

Monday, Jan 25, 2010 Banks and investors are pulling out of the carbon market after the failure to make progress at Copenhagen on reaching new emissions targets after 2012. Carbon financiers have already begun leaving banks in London because of the lack of activity and the drop-off in investment demand. The Guardian has been told that backers have this month pulled out of a large planned clean-energy project in the developing world because of the expected fall in emissions credits after 2012. Anthony Hobley, partner and global head of climate change and carbon finance at law firm Norton Rose, said:...

The Brazilian Securities, Commodities and Futures Exchange announces the cancelation of the voluntary carbon credit market auction. The auction was scheduled to take place on December 22, at 1:00 p.m. (Brazil Time). It will not be held on this date due to the lack of participants, in accordance to the auction’s Notice of Invitation to Tender.

Falling oil prices slash value of greenhouse gas emission allowances.SOURCES: EEX; TECSON The price of European Union (EU) allowances for carbon dioxide emissions has reached an all-time low, hit by falling oil and gas prices, and expectations that economic recession will lead to reduced energy demand.Under the EU's mandatory emission trading system - set up in 2005 and still by far the largest such scheme in the world - power plants and other CO2-intensive industries can buy emission allowances that allow them to exceed their government-allocated CO2 caps. In 2008, the equivalent of almost 5 billion tonnes of CO2 was...

The double standards of our eco accountants Imagine an unpopular, impotent, and fragile UK Government, trying to make political capital out of a looming crisis. To avoid being embarrassed by criticism of its shallow policies, it appoints an independent panel of experts, to which it defers controversial decisions. Now imagine that the panel proposes measures from which its members and their associates will directly benefit. It couldn't happen here, you may think. Scandal and resignations would surely follow. Who could possibly allow vested interests to profit from the legislation they are instrumental in creating? This week, an independent panel of...