23.01.2015 - Political divisions hit EU carbon price
Carbon prices plunged almost 8 per cent on Thursday after a bumpy start to the EU’s attempt to fix its dysfunctional emissions market, with bitter divisions among parliamentarians creating uncertainty among traders. Europe’s emissions trading system is the world’s biggest cap-and-trade market, covering more than 11,000 factories and companies, but it has proved a blunt instrument in the fight against climate change. Rock bottom prices, which have fallen to about €7 a tonne, from a high of about €30 in 2008, offer little incentive to stop burning fossil fuels...............................................Full Article: Source
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