April 2 (Bloomberg) -- European Union carbon permits for December rose for the fourth time in five days as traders focused on lawmakers’ proposals to boost prices after data showed emissions declined 1.4 percent in 2012.
The benchmark future closed 2.7 percent higher at 4.94 euros ($6.34) a metric ton on London’s ICE Futures Europe exchange, after having fallen as much as 6 percent in earlier trading.
Carbon emissions fell to 1.787 billion tons last year from 2011, according to incomplete European Commission data from 89 percent of factories and power stations. Discharges from the 68 percent of airlines that submitted reports by the April 30 deadline totaled 55 million tons, the data showed.
“The published data will not have a substantial impact on prices, since there haven’t been substantial changes to market fundamentals,” according to Guido Busato, chief executive officer of Eco-Way, an Italian emissions-trading company based in Milan. “Instead, we think that price movements will be based on the political decision that will take place on April 16,” when the European Parliament votes on a measure to enable temporary cuts in the supply of permits, he said.
United Nations Certified Emission Reductions for December rose 3 percent to 34 euro cents a ton.
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