Carbon Positive: The future of carbon markets worldwide is under a dark cloud, a report by Bank of America Merrill Lynch concludes. The failure of the Copenhagen climate conference to agree decisive action to cut emissions, doubts over whether cap and trade legislation in the US and Australia can be passed this year and depressed demand in the existing European carbon market are all weighing heavily on the carbon trading outlook, the Merrill’s report said. It forecast that CO2 emissions in the …