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United Nations Carbon Offsets for December Drop to Record

United Nations carbon offsets for December and for 2013 fell to records after the European Union said it wouldn’t hold back supply of EU permits until it receives approval for its glut-fix plan.

UN carbon credits for December fell as much as 22 percent to 60 euro cents a ton on London’s ICE Futures Europe exchange, the lowest since the contract began trading in 2008. UN offsets for 2013 dropped 15 percent to 91 cents a ton, also the lowest since the contract was introduced.

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