Is the next bubble being created?
Copenhagen's Hidden Agenda: The Multibillion Trade in Carbon Derivatives
The banks are preparing to do with carbon what they’ve done before: design and market derivatives contracts that will help client companies hedge their price risk over the long term. They’re also ready to sell carbon-related financial products to outside investors.
Banks Moving In
Banks intend to become the intermediaries in this fledgling market. Although U.S. carbon legislation may not pass for a year or more, Wall Street has already spent hundreds of millions of dollars hiring lobbyists and making deals with companies that can supply them with “carbon offsets” to sell to clients.JPMorgan, for instance, purchased ClimateCare in early 2008 for an undisclosed sum.
Report Warns That Carbon Derivatives Markets Pose Threats Congress Has Not Addressed
This one from "Friends of the Earth"? Who funds Friends of the Earth?
Foundation money, what is the agenda of the foundation funder?
Shell? Big Oil? So are they also going to make money on carbon trading?
And the environment? Nothing will change.