[The carbon market] has delivered some of the innovation that it was supposed to generate. Shell, for instance, is pumping CO2 from a refinery...into 500 greenhouses..., thus avoiding emissions of 170,000 tonnes of CO2 a year and saving the greenhouse owners from having to burn 95m cubic metres of gas to produce the CO2 they need…But European emissions overall are not falling, which suggests there may not be as much switching out of coal, or as much technological innovation, as had been hoped. Chinese [certified emission reductions] are too cheap and the carbon price is too low and too volatile. [also refers to Alcan, Bunge, Climate Change Capital, Vattenfall]