Delingpole: Coronavirus Is Killing the European Union’s Carbon Trading Market. | WHAT REALLY HAPPENED

Delingpole: Coronavirus Is Killing the European Union’s Carbon Trading Market.

The Covid-19 pandemic has turned Europe’s carbon price upside down, with prices dropping by 40% since early March when they were still trading at about €24 ($26) per metric ton, analyst IHS Markit said.

The current trading levels of between €16-18 per metric ton are roughly two thirds of the level of the high of 2019 of €29 per metric ton.

“This is a perfect storm for Europe’s carbon market, and it may well lead to some challenging questions about its role in Europe’s decarbonisation strategy once the COVID-19 crisis has passed,” said IHS Markit director Coralie Laurencin.

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