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Goldman’s Cohen Says World Moving Toward Voluntary Carbon Cuts

Dec. 7 (Bloomberg) -- Global attempts to curb greenhouse gases through legal treaties are likely to fade in favor of voluntary actions, Abby Joseph Cohen, Goldman Sachs Group Inc.’s senior U.S. investment strategist, said in a research note to clients.

Negotiators from more than 190 countries at United Nations-led climate talks in Durban, South Africa, aren’t likely to agree on how to forge a new legally binding accord to replace the existing Kyoto Protocol, Joseph Cohen, the Goldman Sachs strategist known for predicting the 1990s bull market, wrote.

“Instead, we expect to see a further transition to a global climate change process that focuses on voluntary national pledges and international support through financing and technology transfer,” according to the note.

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To contact the reporter on this story: Kim Chipman in Durban, South Africa at kchipman@bloomberg.net

To contact the editor responsible for this story: Alessandro Vitelli at avitelli1@bloomberg.net

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