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EU Carbon Price Hits a Record 41 Euros as Rally Speeds Up


EU Carbon Price Hits a Record 41 Euros as Rally Speeds Up
Mar 11 2021, 12:26 AM
March 10 2021, 3:37 PM
March 11 2021, 12:26 AM
(Bloomberg) European Union carbon permits surged to a record as speculators bet on stricter policies to meet emission-reduction goals and demand from industrial buyers for the pollution rights.
(Bloomberg) European Union carbon permits surged to a record as speculators bet on stricter policies to meet emission-reduction goals and demand from industrial buyers for the pollution rights.
Carbon futures cleared 41 euros a metric ton for the first time in the EU’s 16-year-old cap-and-trade emissions market, the largest in the world. The contracts have climbed 26% this year, and are up five-fold since 2018. ....

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OPINION: Denmark piles on pressure for greener approach from fellow North Sea producers


Danish Energy & Climate Minister Dan Jorgensen told Reuters: “We make no secret of the fact that this is expensive, but our hope is that others will look at us and see that it can be done.”
He added that Denmark would “lack credibility” if it was free of fossil fuels while continuing extraction and export.
That comment sends a loud message to Denmark s North Sea neighbours, notably Norway and the UK.
Denmark is now the European Union’s largest oil and gas producer after the UK left the trading bloc, even if its output of 104,000 barrels of oil equivalent per day remains a tiny fraction of Norwegian and UK production, currently about 4 million and 1.7 million boepd, respectively. ....

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