Dec. 21 (Bloomberg) -- European carbon prices fell the most since February after the Copenhagen climate accord didn’t set targets that would boost demand for permits.
European Union carbon-dioxide allowances for delivery in December 2010 dropped as much as 8.7 percent to 12.40 euros a metric ton on the European Climate Exchange in the first day of trading since the summit ended. The contract traded at 12.70 at 7:53 a.m. London time.Quel dommage! I guess they'll have to resort to some other scam, er, stratagem to fill their coffers. They say that sharia banking is the coming thing.
The agreed targets in the Copenhagen deal amount to a “bunch of negotiation ranges” that investors had already factored in, Trevor Sikorski, an emissions analysts for Barclays Capital, said in a phone interview yesterday after returning to London from the Danish capital. “It seems to be below even our modest expectations.”...
Update: Greenpeace calls Copenhagen "a climate crime scene."