BBC: Despite a volatile beginning, carbon markets promise to be a key player in the fight against climate change , says Professor Michael Grubb. However, he warns that governments must not “snatch defeat from the jaws of victory” by failing to take the necessary steps to ensure their longevity. Barack Obama wants one; Gordon Brown wants one; the planet desperately needs it, but still an effective carbon market remains stubbornly elusive. Prices in the EU’s version, the Emissions …