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’Quote du jour, carbon market farce edition
Continuing the theme of farcical carbon markets:
Friday saw market uncertainty following the EU’s mistaken release of a press release suggesting that member states had voted in favour of a ban from the 1 st of January despite the vote not having taken place.
[CFA in Boston] Carbon exposure and strategic opportunities in energy markets
From John Parsons, a senior lecturer at the MIT Sloan School of Management who is presenting at the CFA Institute 2010 Annual Conference, which begins on Sunday in Boston…
Earlier this year, the US Securities and Exchange Commission issued guidance on disclosure requirements pertaining to climate change and greenhouse gas emissions.
A volcanic emission
There was a chap in the audience of this year’s London City debate — claiming to be a vulcanologist — who questioned the whole point of carbon trading schemes given that any savings would be blown out of the window by just one or two major volcanic eruptions in the world.
Does Europe need a carbon central bank?
The annual Lord Mayor’s City Debate took place in London’s Mansion House on Monday evening, with FT Alphaville in attendance. (Many thanks to the Chicago Mercantile Exchange for the invitation.)
The motion put forward to financiers:
Carbon indulgences
As if things couldn’t get much worse, the banking crisis is also exacerbating global warming.
The below chart, from the European Climate Exchange (via Hellasious at Sudden Debt), shows how.
It’s the price of EU-traded futures on carbon dioxide emissions.
The carbon indicator
The market for emission permits is beginning to feel the repercussions of a global recession, according to market-watchers IDEACarbon. Contracts in the EU program – the world’s largest – closed at an 18-month low on Friday.