The price of tradeable carbon allowances fell on the EU market in response to failure of the U.N. climate talks to deliver strong limits on carbon dioxide emissions.
"COPENHAGEN — By early Saturday morning, the atmosphere at the European Union pavilion at the Bella Center had turned funereal."
"When two weeks of climate negotiations finally wound to an overtime finish in Copenhagen, the goal of a new binding treaty to combat global warming still looked elusively far away. And, even for climate activists, the question was: 'Is that so bad?'"
"After two weeks of delays, theatrics and last-minute deal-making, the United Nations climate change talks concluded here early Saturday morning with a grudging agreement by the participants to “take note” of a pact shaped by five major nations."
"A definitive step toward providing legal remedies for the effects of climate change could occur before either an international treaty or legislative accord can be reached, according to attorneys tracking the issue in the courts."
"Up to a fifth of all species of animals and plants risk extinction even if the world manages to limit global warming to levels widely viewed as safe, the head of the Convention on Biological Diversity said."
"Carbon emissions cuts pledged at U.N. climate talks would put the world on 'an unsustainable pathway' toward average global warming 50 percent higher than industrial countries want, a confidential U.N. draft document showed Thursday."
"The CBO has released a preliminary estimate of the Senate's 'Clean Energy Jobs and American Power Act,' basically their cap-and-trade bill. And the results are precisely the opposite of what climate deniers have warned -- rather than imposing a massive energy tax, the bill would reduce the budget deficit over time." The Kerry-Boxer bill would reduce the deficit by about $21 billion over the 2010-2019 period.
"President Obama called on world leaders to come to an agreement on climate change, no matter how imperfect, and pressed for a global climate change accord to include a way to monitor whether countries -- namely China -- are complying with promised emissions cuts."
"A visibly angry Barack Obama threw down the gauntlet at China and other developing nations Friday, declaring that the time has come to 'not to talk but to act' on climate change. Emerging from a multinational meeting boycotted by Chinese Chinese Premier Wen Jiabao, Obama warned delegates that U.S. offers of funding for poor nations would remain on the table 'if and only if' developing nations, including China, agreed to international monitoring of their greenhouse gas emissions."
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