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The UK and many European economies entered a recession in the second half of 2008. This is a threat to European climate negotiations and, in the run-up to the recent climate summit in Brussels, many countries were more focused on protecting their economies than committing to stretching carbon reduction targets.

But funnily enough economic recession can lead to very fast reductions in greenhouse gas emissions. Following the collapse of the Soviet Union, much of Eastern Europe de-industrialised and carbon emissions dropped off in the early 90s. These countries signed the Kyoto Protocol and committed to reduce their emissions, but because the targets are based on levels of emissions in 1990 - before Eastern European industry closed down - they will be met easily.

Something similar is happening in the EU Emission Trading Scheme. Industrial output is falling and there is lower demand for carbon allowances.

From an environmental point of view, this isn't necessarily a bad thing. We need a cut in emissions and it doesn't matter how it happens.

But while emissions targets are being met through falling economic output, investment in low carbon technology is being delayed, making future emissions caps even more challenging.