Will the recession cut our CO2 emissions? (A: Apparently, not much)

[OKIsItJustMe]

http://www.guardian.co.uk/business/2009/feb/23/carbon-trading-economy-downturn

Will the recession cut our CO2 emissions?

Economic activity is slumping, the price of carbon trading credits plunging – but analysts forecast only a negligible slowdown in global warming

David Adam
guardian.co.uk, Monday 23 February 2009 18.29 GMT

As the recession bites, the economies of many countries are slumping. But is the consequent fall in demand for energy and goods significantly ­reducing greenhouse gas emissions?

In Europe, the emissions trading scheme provides a clue. Firms with high levels of pollution must buy carbon credits, the price of which has fallen below €9 from €30 last summer.

Analysts say the price drop reflects a slowing demand for credits as companies scale back production and cut their http://www.guardian.co.uk/environment/carbon-emissions">carbon emissions. But it could also indicate companies have sold large amounts of surplus credits to raise cash.

Frank Convery, professor of environmental policy at University College Dublin, said the big sectors in the trading scheme, such as cement, steel, pulp, paper and glassmaking, were all in sharp decline. "And all that feeds back into emissions."

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