Copenhagen or bust

Carbon trading volumes boomed in 2009, but price declines meant the total value of trades was down modestly. Following the disappointing Copenhagen summit, what hope is there for new life in the carbon markets? Peter Madigan reports

Often described as one of the most environmentally friendly cities in the world, it was hardly surprising Copenhagen was selected to hold December’s United Nations climate change conference. World leaders converged on the Danish capital to produce a framework of new emission mitigation targets for 2013 to 2020, aiming to replace the 1997 Kyoto Protocol with a document that would secure the agreement of the US, China, Russia, India and other major greenhouse gas emitting nations.

Delegates found