Trading Emissions Renegotiating Unprofitable Carbon Deals
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Trading Emissions Plc is seeking to renegotiate unprofitable carbon offset purchase contracts and there are “encouraging” initial signs that Chinese sellers are taking a “pragmatic approach to the problem.”
The company has an unhedged exposure of 11 million metric tons of Certified Emission Reduction offsets, Trading Emissions said today in a statement distributed by the Regulatory News Service. They would be worth 41.3 million euros ($55.1 million) at today’s price of December credits of 3.75 euros a ton on the ICE Futures Europe exchange in London as of 4:55 p.m.