For all the Monday morning quarterbacking on the political implications of the last-minute deal in Copenhagen (more on that later), money talks. And it isn\u0092t happy. Businesses wasted no time expressing their concern<\/a> with the watered-down agreement reached in Denmark. <\/p>\n Basically, lots of businesses\u0097from banks to power-equipment makers to those who brew advanced biofuels–wanted clear rules on just how and when the clean-energy future is to be built. They didn\u0092t get it. Take this reaction, reported<\/a> in today\u0092s The Wall Street Journal:<\/p>\n “If we’d had bankable emissions reduction targets for 2020, it would have given a stronger price signal for carbon,” said Joan McNaughton, senior vice president, Power and Environment Policies, at Alstom Power SA, an engineering company which is a leader in clean coal. “That would have kick-started a lot of the needed investment in clean technology.”<\/p>\n<\/blockquote>\n And much of that would have had to pass through Wall Street. However low expectations were for an ambitious deal in Copenhagen, the underlying hope\u0097among the pinstripe set, at least\u0097was for some sort of global version of Europe\u0092s emissions-trading plan. That would have laid the foundation for a huge, worldwide, liquid commodities market in permits to emit carbon dioxide. Bank of America Merrill Lynch carbon boss Abyd Karmali made as much clear<\/a> last week. <\/p>\n So where to from here? The near-term prospects for European carbon prices\u0097and, by extension, the vaunted \u0093price signal\u0094 for a clean-tech investment rush–don\u0092t look to great. There\u0092s already a glut of permits, which has kept prices lowish. And there\u0092s a fresh set ready to be issued in February, adding even more permits to a market that has more than it knows what to do with.<\/p>\n Pundits everywhere are passing judgment on the climate-change deal reached in Copenhagen early Saturday. The market is too\u0097and it isn\u0092t mincing words. Prices for carbon-emission permits in Europe are tanking on Monday, with a fall of nearly 10%, the biggest decline in almost a year. That\u0092s a pretty clear sign that whatever the other merits […]<\/p>\n","protected":false},"author":761,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-104789","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/104789","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/761"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=104789"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/104789\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=104789"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=104789"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=104789"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}\n
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