Prices for EU carbon allowances rose sharply this week after Germany and France pledged to push for an agreement on reform of the EU’s Emissions Trading System (ETS) before November.
The bellwether December 2017 contract for allowances was trading at a high of €7.11 per ton ($8.56/t) on the Intercontinental Exchange on Friday morning, 22% above last Friday’s close. Thursday’s closing price of €6.90/t was the highest close since January 2016, according to ICE data.
The bull run took market observers by surprise because the...
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