| European Union carbon allowances posted their biggest drop since April after a panel in the bloc’s parliament failed to agree on how to modify a measure curbing a glut of carbon permits.
Permits fell as much as 8.1% after the European Parliament’s industry committee, which has an advisory role in the legislative process, rejected a recommendation on a mechanism to withhold surplus allowances. Earlier, committee members backed inclusion in the report of an amendment to start the market overhaul in 2021, as envisaged by the European Commission, while a proposal for it beginning in 2017 was rejected...............................................Full Article: Source |