Major backer now doubts validity of carbon trading

• HSBC report authors "question the validity of carbon trading as an investable theme":

"Following a Copenhagen summit where no legally binding treaty on carbon emissions was delivered, HSBC reports that its

• climate change sector has underperformed global equities, according to the latest quarterly review

of the HSBC Global Climate Change Index on 16th March 2010. The lack of a global agreement on emissions reduction has led the review's authors

• to question the

• validity of carbon trading as an investable theme.

Vijay Sumon, an index specialist at HSBC Global Research said: "A global agreement with specific hard targets

• would have allowed the carbon market to thrive; with none in place the general downward trend of carbon trading seen last year has accelerated.

• Post Copenhagen it has fallen over 28 per cent".

This turns up the heat on the development of alternative and renewable energy companies, such as those championed by BlackRock New Energy and Premier Renewable Energy investment trusts."

• Trustnet, 3.29.10, "Carbon Trading in Decline," by Martin Wood, "HSBC blames lack of agreement at Copenhagen for climate change related investments underperforming global equities."...via Tom Nelson

"So who will win in this battle to monetize

• the carbon?

• While science was killed as an innocent bystander,

• the UN with its desire for funding via international taxation vies

• with exchange corporations who want a piece of the

• new $300 billion market."...

HSBC Bank was in at the beginning of the carbon trading calamity, as promoted on the Chicago Climate Exchange page noting its part in Trading Emissions, PLC.

• George Soros climate pressure group Ceres.org presents HSBC climate alarmism.

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