Guardian: “The EU’s flagship climate policy, its emissions trading scheme (ETS), saw the price of carbon crash to a record low on Thursday after a vote in Brussels against a proposal to support the struggling market.”
“The price of a permit to emit a tonne of carbon dioxide fell 40% at one point to €2.81 today, far below its record high of €32, before recovering to more than €4 later in the day. The ETS, aimed at reducing emissions from Europe’s entire energy and industrial sectors, has been plagued by an oversupply of permits due in part to over-generous initial allocations following lobbying by industry.”
“The price of a permit to emit a tonne of carbon dioxide fell 40% at one point to €2.81 today, far below its record high of €32, before recovering to more than €4 later in the day. The ETS, aimed at reducing emissions from Europe’s entire energy and industrial sectors, has been plagued by an oversupply of permits due in part to over-generous initial allocations following lobbying by industry.”
