Carbon emissions permits for releasing carbon dioxide into the atmosphere slumped to their lowest in more than two years on 4 October, threatening investment in renewables, reports Bloomberg.
Carbon permits for delivery in December slumped to €9.82 ($13.27) /tonne this week, the lowest since February 2009 and 46 per cent down from the peak so far this year in May.
Europe’s sovereign debt has undermined the market, with a recent auction of permits by Greece as it struggles to avoid default aggravating a glut of permits, UBS AG analyst Per Lekander told Bloomberg. Economic slowdown also boosts supply as manufacturers and generators sell permits for idled factories and power plant.
For more environmental news click here