08 Aug '11, 10am
Carbon Offsets: "The world's worst performing commodity" - Now what for #REDD?
Carbon Offsets Near Record Low, Worst Performing Commodity Date: 08-Aug-11 Country: UK Author: Gerard Wynn and Nina Chestney Solar panels sit on the roof of a building in the Hong Kong Electric Lamma island power plant July 29, 2010. Photo: Tyrone Siu Carbon offsets neared all-time lows Friday, confirming their status as the world's worst performing commodity, as slumping demand meets rising supply of the U.N. instrument traded under the Kyoto Protocol. A worsening global economic outlook has dented prices for emissions permits which depend on a robust economy belching greenhouse gases into the air, and has also impacted oil, grains, coal and natural gas. Carbon offsets have fared uniquely badly because a U.N. climate panel continues to print new offsets, regardless of a widening glut in emissions permits in the main demand market, the European Union's carbon market. Count...