CANCUM

                                                          CANCUM
                                                             Edition-1

                       Around this time last year, hopes that the Copenhagen summit would deliver a deal on tackling climate change were high. There were expectations that the roadmap to go beyond the Kyoto protocol, which ends on 2012. Disappointingly, the summit was dud.

                             As the world moves toward another key, year-end meeting in Cancun, Mexico, Italian Environment minister Stefiania Prestigia Como has already sounded a note of caution. Don’t repeat the mistake of raising expectations, she said, early in July. For, an even a good five months before the summit, it is widely believed that Cancun will not result a deal. A recent study conducted by Pricewaterhouse coopers for the International Emissions Trading Association gave evidence of this thinking among carbon market participants. About 60% of the carbon market player are surveyed under the study reckon “any major agreement will be postponed until further meetings in 2011.