The carbon market has been damaged by three “whopping falsehoods” that slowed its growth and caused European lawmakers to question their belief in the system, said the retiring head of a carbon market lobby group.
A lawsuit by U.S. airlines arguing against inclusion in the European Union carbon market probably will stir tension at December climate talks, said Henry Derwent , the International Emissions Trading Association president.
UBS AG, Switzerland’s biggest bank, sought immunity from prosecution by Canadian regulators probing a potential conspiracy to rig the price of derivatives worldwide, three people with knowledge of the inquiry said.
Africa may be the next major market for carbon-reduction ventures amid investigations into Chinese certification and as the European Union imposes new regulations, the International Emissions Trading Association said.
Chinese carbon-cutting projects are skirting around the nation’s unofficial floor price for carbon credits, according to the former head of an emissions trading lobby group. That would indicate the country is less likely to show supply restraint, said a Stanford University researcher.
Prices of carbon credits generated by developing countries may rise over 2010 as regulators review industrial gas projects and Chinese wind energy facilities, fueling speculation that supplies will slow.