European Union carbon permits gained the most in almost a month after envoys at the global climate summit in Cancun, Mexico, reached agreements on a fund to manage aid for poorer nations and reducing deforestation.
EU allowances for December 2011 rose as much as 1.8 percent to 15.17 euros a metric ton, the biggest intraday increase since Nov. 17, and traded at 15.03 euros as of 9:15 a.m. on London’s ICE Futures Europe Exchange. The contract extended this year’s advance to 14 percent.
