Bloomberg the Company

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Follow Us

Industry Products

EU Might Halt Carbon Market to Sort Out Economy, Labre Says

Don't Miss Out —
Follow us on:

Nov. 3 (Bloomberg) -- There’s a risk the European Union might halt its carbon market, the world’s biggest, while it sorts out the bloc’s economic and political problems, said Marcelo Labre, a visiting fellow at London Business School who teaches energy, carbon finance and emissions trading.

“The main issue is a possible runaway effect to other periphery countries that could lead to the breakup of the euro zone as we know it now, leading to the emissions-trading-system halt until EU governments manage to sort out their more urgent economic problems,” Labre said today by e-mail. “The probability of this event is no longer negligible.”

Taking Greece out of the carbon market would marginally reduce the program’s surplus because the nation’s emissions have dropped so much, Labre said. “Greece itself is immaterial for the carbon market.”

To contact the reporter on this story: Mathew Carr in London at m.carr@bloomberg.net

To contact the editor responsible for this story: Stephen Voss at sev@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.