Carbon Offset Futures Tank After Copenhagen Fiasco

climate change carbon

It’s a pretty tiny market still, but there is actually trading in carbon permits. In some countries, where they have emissions limits, they actually have value. And if there ever is a cap & trade scheme put into place in more places, what’s worthless now may actulaly end up being valuable.

Well, here’s how you know the Copenhagen summit was a total joke. The cost of emitting carbon just plunged 8.7%.

Bloomberg: European Union carbon permits fell the most since February on the European Climate Exchange. The U.S., China, India and other nations attending the two-week Copenhagen summit that ended at the weekend agreed to voluntary, rather than binding, targets to reduce emissions. The accord isn’t enough to boost demand for permits, said Trevor Sikorski, an emissions analyst at Barclays Capital in London.

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