At least 10 London banks have scaled back or closed their carbon trading desks amid turmoil in the European emissions trading scheme.
The fledgling market was once seen as a promising growth area, with the City of London Corporation predicting in 2006 that London would become the leading provider of services to the “mushrooming” sector.
But the number of City workers employed on carbon desks has fallen by 70 per cent in the past four years, according to Anthony Hobley, president of the Climate Markets & Investors Association.
The workforce had fallen from close to a thousand to just a couple of hundred, Mr Hobley estimated, as carbon prices have plummeted.
I wouldn’t have thought that anyone was still involved in the sector.
Good news but it would be better if all of those 200 or so people were
gainfully employed.
Good riddance. A couple of hundred to go.
Mushrooming… so in the dark and covered in sh1t.
That’s okay, they can start trading tulip bulb futures.
Damn just when I was poised to double my profits selling used carbon copies..Im now broke, I just dont trust the left anymore.
A free market – when it decides something you know it’s true. Like Lou Skezas said – “I know the bees are dying off because the price of honey hasn’t changed….”
*aren’t*
Pretty bad when even the Marxists can see through BC’s carbon scam.
http://www.socialist.ca/node/1711
Me to broker: Sell all my carbon and put it into Bitcoin.