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EU Carbon Prices Tumble to More Than Two-Year Low
Europe’s carbon prices continued to slide on Monday and tumbled to levels last seen in October 2021, as renewables surge while natural gas prices slump and industrial activity slows down amid weaker economies. The EU has a carbon permit market in place, in which industry, power firms, and airlines pay a carbon price for their emissions, as the bloc seeks to lower its carbon footprint and become carbon neutral by 2050. The EU carbon futures for December slumped by 5.3% on Monday morning in Europe to $58.39 (54.17 euros) per ton on the ICE Endex exchange, according to data compiled by Bloomberg. That’s the lowest ... (full story)