Contents:

LETTER FROM EUROPE TO THE WORLD

EU Climate Action Commissioner Connie Hedegaard makes the case for the centrality of carbon markets in the fight against global warming

INTRODUCTION FALLEN OUT OF FASHION?

The carbon market finds itself an unusual position – somewhat out of vogue. Mark Nicholls reports

EMISSIONS TRADING RAISING ITS GAME?

A unilateral increase in the EU’s 2020 emissions target would provide a vital shot in the arm to the international carbon market. But Alessandro Vitelli isn’t convinced the doctor is ready

CARBON PRICES ON THE UP?

Katie Kouchakji reports on the recent rally in the price of carbon – and on where prices are heading from here

CLIMATE POLICY ON THE ROAD TO CANCÚN

After Copenhagen’s disappointments, Jennifer Morgan looks forward to what can andshould be done to get the international climate talks back on track

TALKING HEADS OPPORTUNITY KNOCKS?

This year and next look likely to be a time of consolidation for the carbon markets – but that doesn’t mean there aren’t opportunities to be grasped. Eight market veterans look ahead

CORPORATE PROFILE CEMENTING REDUCTIONS

Jess McCabe reports on cement giant Lafarge’s industry-leading climate change strategy

CLEAN DEVELOPMENT MECHANISM SUNSET OR SUNRISE?

Does the CDM have a place in the post-2012 climate change landscape? Axel Michaelowa thinks so

OPINION INVESTING IN UNCERTAIN TIMES Carbon markets veteran Steve Drummond considers which emission reduction investments offer the best hedges against uncertainty

UNITED STATES CRYSTAL BALL GAZING

Jon Sohn and Andrew Shaw examine the known unknowns of US climate policy

FORESTRY IN READINESS FOR REDD

Christian del Valle considers the progress made on mechanisms to reduce emissions from deforestation and degradation – and what is needed to make private finance flow

FUTURE MECHANISMS TIME FOR A SENSE OF URGENCY?

Given the glacial pace of the international climate talks, there is plenty of time to elaborate the scaled-up carbon market mechanisms of the future, right? Wrong, says Kim Carnahan

CLEAN DEVELOPMENT MECHANISM PUTTING PERVERSE INCENTIVES ASIDE

The Executive Board urgently needs to address confusion around government incentives for low-carbon technologies, says John Green

GLOSSARY

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