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There’s gold in them thar carbon trading schemes

November 26, 2009

This via a sharp-eyed trades unionist in Sheffield…

“…Our position is clear: as investors we believe that this agreement is vital in protecting our investments and reducing costs and risks over the long-term.

So … will we get a deal?

Such has been the time, energy and commitment put into the negotiations that the likelihood is that a deal of sorts will be struck, although we expect Copenhagen will not be the end to the negotiations. We anticipate interim targets for developed countries – though not as aggressive as the science demands – and possibly targets for developing countries – though focused on increased efficiency rather than actual emission cuts.

The US, however, could remain a stumbling block, largely because of its inability to agree sufficiently demanding domestic regulation. US legislation will come, but probably not before the first half of 2010, with the result that much of the detail of any ‘Copenhagen Protocol’ will need to be finalised in the New Year. While Copenhagen is not the ‘last chance to save the world’ it is nonetheless an opportunity to put pressure on politicians to take a big step forward in tackling climate change. We hope that our governments make the most of it.”

From “Gearing up for Copenhagen” (an article in a recent ‘newsletter’ type magazine sent out to investors with Henderson ~ www.henderson.com/sri)

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