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Tuesday, 22 January 2013

EU must act as carbon prices hit record low

The EU is urged to remove an oversupply in permits in its carbon market as prices fell below €5 per tonne on Monday January 21.
According to the FT, the session low of €4.79 per tonne has triggered a crisis of confidence in the EU's eight year-old emissions trading scheme.
Since 2011, carbon prices have decreased by 70 per cent, a result of economic weakness which has led to an oversupply of permits, the paper says.
Meanwhile, BBC News reports that critics of the EU's emissions trading system argue that there were too many permits in the first place.

Source: the Parliament

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