Trading Halt Shows UN Carbon System in Jeopardy

Can you believe a carbon market is not healthy?

Me too.

Trading Halt Shows UN Carbon System in Jeopardy: Energy Markets - Bloomberg:

An unprecedented freeze in United Nations carbon trading is fanning speculation the five-year-old market designed to combat greenhouse-gas emissions in poor countries is in danger of becoming superfluous.

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Not a single UN Certified Emission Reduction, or CER, changed hands on July 22 and July 23, according to data from ICE Futures Europe, keeping the market on course for the lowest monthly aggregate volume since March 2008. The 14.3 million tons of offsets bought and sold this month compares with the record 211 million tons traded in October and an average 52 million over the past 12 months.
The collapse shows factories, power stations and airlines in the European Union have already bought most of the 1.7 billion tons of UN credits they can use to offset domestic emissions through 2020. That threatens to undo a market formed under the 1997 Kyoto Protocol as a way for richer nations to help developing countries limit greenhouse-gas output.

Trading Halt Shows UN Carbon System in Jeopardy: Energy Markets - Bloomberg: