05 Dec '11, 7am

Point Carbon issues very gloomy outlook for EU carbon market

Reuters Point Carbon has slashed its forecast for the price of carbon to just €12 per tonne during phase three of the EU's Emissions Trading Scheme (EU ETS) as a result of the sovereign debt crisis. The carbon market analyst issued a statement late last week predicting the average EU Allowance (EUA) price will be €12/t from 2013 to 2020, €10/t less than its July 2011 forecast. FURTHER READING Island nations demand global climate deal within a year EU earmarks €25bn for climate research Anne Kat Brevik, commercial manager at Point Carbon , said the price would be lower than previously thought because of the impact of the global economic crisis. "Not only do we see industrial output and associated emissions down – we predict by some 700Mt for the period up to 2020 – but we also see governments recoiling from tougher climate action in the wake of domestic economic hardship," ...

Full article: http://www.businessgreen.com/bg/news/2129829/carbon-issue...

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