The price of carbon in Europe has soared to a fresh record high near €38 a tonne, with prices adding more than 13 per cent over the past two sessions as traders rushed to secure supplies of EU emissions allowances. A 6.8 per cent move on Wednesday followed a 6.5 per cent gain in the previous session, triggered by an auction in Poland that cleared far above the market price. The gains mark an acceleration in the cost of releasing one tonne of CO2, which has already soared in recent months as the EU has strengthened its commitments to cutting emissions. The price of carbon has climbed by 66 per cent since early November.
FT 3rd Feb 2021 read more »