Barclays Says Cancun May Bring ‘Good News for Climate’

India’s support for measuring, reporting and verifying emissions is an example of “good news for climate policy” coming out of global talks in Cancun, Mexico, analysts at Barclays Plc said.

India’s proposal on measuring carbon dioxide was a “nice surprise,” said Trevor Sikorski, a London-based analyst at the Barclays Capital investment bank. He also cited progress on proposals to reduce emissions from deforestation and improve the United Nation’s carbon market.

“While none of this has much potential to move the market in the short term, it is good news for climate policy,” he said.

European Union carbon permits for December rose 8 cents, or 0.5 percent, to 14.83 euros a metric ton as of 4:15 p.m. on London’s ICE Future’s Europe exchange. Europe manages the world’s largest cap-and-trade program, which limits emissions from more than 11,000 factories and power stations.

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