82,910
edits
Amwelladmin (talk | contribs) No edit summary Tags: Mobile edit Mobile web edit |
Amwelladmin (talk | contribs) No edit summary Tags: Mobile edit Mobile web edit |
||
Line 1: | Line 1: | ||
{{a|commodities| | {{a|commodities| | ||
{{image|Hot France|jpg|Bordeaux vintage of ’22 not looking so good.}} | {{image|Hot France|jpg|Bordeaux vintage of ’22 not looking so good.}}}}{{d|Emission allowances|/ɪˈmɪʃən əˈlaʊənsɪz/|n|}} | ||
}}{{d|Emission allowances|/ɪˈmɪʃən əˈlaʊənsɪz/|n|}} | |||
An opportunity for regulatory arbitrage, created out of thin, hot air.<ref>Boom boom.</ref> Notwithstanding their close connection with the commodities markets, emission allowances are not commodities, but rather a sort of play on global energy policy. In an odd way they resemble [[crypto]], in that they are fully dependent on a collective belief (amongst the world’s governments) that climate change can, and indeed needs to, be managed by imposing financial incentives on the generation (or consumption) of carbon dioxide. [[Emission allowance]]s themselves formally resemble financial instruments, though their custody and legal form are rather unique, and lawyers will get exercised about how one effectively takes security over them, | An opportunity for regulatory arbitrage, created out of thin, hot air.<ref>Boom boom.</ref> Notwithstanding their close connection with the commodities markets, emission allowances are not commodities, but rather a sort of play on global energy policy. In an odd way they resemble [[crypto]], in that they are fully dependent on a collective belief (amongst the world’s governments) that climate change can, and indeed needs to, be managed by imposing financial incentives on the generation (or consumption) of carbon dioxide. [[Emission allowance]]s themselves formally resemble financial instruments, though their custody and legal form are rather unique, and lawyers will get exercised about how one effectively takes security over them, |