Dziękujemy Polska

Prcies in the EU Carbon Allowances Market

Prices on the EU Car­bon Allowances mar­ket have crashed due to over­sup­ply head­ed into the sea­son­al (sum­mer) down­turn. The mar­ket for emis­sion per­mits has been dis­cred­it­ed by fraud, re-sale of used allowances and VAT scams since it’s launch. But also it seems that buy­ers realise that the back­lash against the anti-growth “carbon=pollution” agen­da of the EU Com­mis­sion has final­ly arrived:

Poland [this week] blocked an attempt by Euro­pean Union envi­ron­ment min­is­ters on Tues­day to strength­en the EU’s car­bon mar­ket and to aim for a 25 per­cent reduc­tion in green­house gas­es by 2020, three EU sources said” Extract from Poland blocks EU move for deep­er CO2 cuts | Reuters

The US car­bon trad­ing mar­ket crashed (and dis­ap­peared) last year for lack of inter­est. But the spec­tac­u­lar fall in the EU mar­ket seems to have been pre­cip­i­tat­ed by both dis­tressed sales of per­mits by the cash-strapped Greek gov­ern­ment and by the EU Com­mis­sion itself that decid­ed to dump 300 mil­lion per­mits into the mar­ket to fund “green” pro­grams includ­ing uneco­nom­ic car­bon-cap­ture-and-stor­age exper­i­ments.

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