(BN) Barclays Says Cancun May Bring ‘Good News for Climate’ (Update1)


Barclays Says Cancun May Bring 'Good News for Climate' (Update1)
2010-12-06 16:22:50.403 GMT

(Adds EU Carbon Permit Prices in fourth paragraph.)

By Catherine Airlie
Dec. 6 (Bloomberg) -- India's support for measuring,
reporting and verifying emissions is an example of "good news
for climate policy" coming out of global talks in Cancun,
Mexico, analysts at Barclays Plc said.
India's proposal on measuring carbon dioxide was a "nice
surprise," said Trevor Sikorski, a London-based analyst at the
Barclays Capital investment bank. He also cited progress on
proposals to reduce emissions from deforestation and improve the
United Nation's carbon market.
"While none of this has much potential to move the market
in the short term, it is good news for climate policy," he
European Union carbon permits for December rose 8 cents, or
0.5 percent, to 14.83 euros a metric ton as of 4:15 p.m. on
London's ICE Future's Europe exchange. Europe manages the
world's largest cap-and-trade program, which limits emissions
from more than 11,000 factories and power stations.

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