The effects of the Copenhagen Climate Conference (COP15) are already kicking in: the price of European greenhouse gas emissions quotas has gone down, observes Politiken. On 21 December, the day after the summit closed, the going rate to pollute dropped below €13/metric ton to its lowest level in six months, reports the Danish daily. The reason is the failure to reach a deal to curb CO2 emissions 30% by 2015 compared to 1990 levels (instead of the 20% reduction agreed) in the EU, which makes investing in renewable energy a less lucrative enterprise: so Danish investor Klimainvest has opted to slash a large-scale project which – with help from the World Bank – was supposed to reduce CO2 emissions in Moldova by 5 million tons a year.