Climate deal: no cure for carbon markets

Analysts say the Durban agreement will do little for carbon prices, at record lows due to flagging investments, an oversupply of permits and macro-economic woes.

LONDON (Reuters) - Carbon markets are still on life support after a UN climate deal agreed in South Africa on Sunday put off some big decisions until next year and failed to deliver any hope for a needed boost in carbon permit demand.

A package of accords agreed after marathon UN talks in Durban extended the 1997 Kyoto Protocol, the only global pact enforcing carbon cuts, allowing five more years to finalise a wider deal which has so far eluded negotiators.

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