EU CO2 Market Has 950 Million Excess Permits, Hedegaard Says
This article is for subscribers only.
The European Union emissions trading system is oversupplied by allowances equivalent to almost 50 percent of the annual pollution limit in the program, according to Climate Commissioner Connie Hedegaard.
“The difficult macroeconomic circumstances have substantially altered the supply-demand balance in the European carbon market,” she told a conference in Brussels today. “Together with the increasing use of international credits this has been the key driver in the build-up of unused allowances to now more than 950 million.”