The costs for European carbon emissions allowances have pushed through €18.5 per tonne in trading, hitting a record price of close to €19 per tonne. Observers have been citing rising gas prices as a key driver, with uncertainty between carbon, fuel and power prices hurting the carbon market.
While carbon prices have been rising steadily since the European Emissions Trading Scheme (ETS) launched in January companies are thought to be concerned that the scheme hasn't created the level of certainty required to make emissions reductions investments, a factor which has pushed costs higher.
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