23 Dec 2009 08:12:04
Green energy investors 'let down'
Renewable energy investors have been left disappointed with the Copenhagen Accord.
Despite mapping out targets to keep the mean global temperature rise to less than two degrees Celsius, the document failed to detail any national carbon dioxide price caps.
According to reports from the BBC, such a declaration would have been one of the strongest signals negotiators could have sent out to stimulate more private investment in green energy technologies.
But since such details are missing from the accord, potential renewable energy investors will be forced to guess the future costs of carbon.
In addition, the fact that negotiators did not specify whether the price of carbon dioxide pollution will rise, businesses such as airline firms will still not be able to determine whether upgrading to more environmentally-friendly technology would make economic sense.
"Copenhagen was a big setback for investors who wanted clear and credible policy signals, encouraging investment," Nick Robins from HSBC told the broadcaster.
Talks in the Danish capital concluded in the early hours of Saturday (December 19th) morning.http://tinyurl.com/y9lzx5k