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CO2 Demand 2.2 Billion Tons Less Than Foreseen, Sandbag Says

Demand for European Union carbon permits and United Nations offsets in the five years through 2012 is 2.2 billion metric tons less than anticipated by EU regulators, according to an environmental group.

In addition to the 2.2 billion-ton shortfall in demand, there is a further 900 million tons of excess allowances in the EU market, according to a report published today by Sandbag, a London non-governmental group that campaigns to improve emissions trading systems.