Global Carbon Credits Die as Smart Money Sees Profits Trading India’s RECs

Vibhav Nuwal was once an enthusiastic supporter of the global carbon market. The 32-year- old Indian-born banker started in September 2009 developing carbon credits to target investors in Europe and Japan for Mumbai-based private-equity fund Managing Emissions. Less than a year later, he quit his job, convinced that the United Nations’ failure to broker a global agreement to reduce greenhouse-gas emissions meant the carbon credit market was effectively dead. Read more…