Durban Deal Cheers Carbon Market, but Economy Still Weighs

摘要

Carbon traders in Europe have had little reason for cheer this year, with the EU's flagship Emissions Trading Scheme (ETS) suffering a series of blows that have knocked both confidence and prices (WGI Oct.26' 11). But while the outlook for 2012 is still fairly bleak - amid growing fears of economic recession - some consolation can be drawn from the unexpectedly positive outcome of the latest round of climate talks in Durban. While many had expected the negotiations to end without agreement, potentially signaling a quick end to the Kyoto Protocol, a last-minute deal was reached that at least buys more time (WGI Nov.23' 11).