Thursday, January 14, 2010

Banking on markets to save the post-Nopenhagen world


Pardon the pun, but the topic of climate change is hot, hot, hot.

Not a day goes by without it being dissected and discussed by pundits, reporters, activists or simply interested persons on the street – all in the agreement that something must be done. And so, they looked to COP15, the 15th United Nations Climate Change Conference in Copenhagen, as hopes ran high that environmentalism might triumph over politics; that all countries might be united in stopping the world from overheating.

The world watched in anticipation for what was supposed to have been a climatic "happily ever after" to a long-drawn, weary tale. Instead, they got a loud thud of an anti-climax in the form of the Copenhagen Accord, a non-binding statement urging for deeper emissions reductions but lacking real powers to police action.

See full Article.