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EU Carbon Jumps Most Since 2013 Amid Talks on Bolstering System

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European Union carbon permits advanced the most in 16 months as climate officials from member nations gathered to discuss a proposal to strengthen the bloc’s emissions-trading system.

Benchmark carbon allowances settled up 8.5 percent, the biggest gain since Sept. 5, 2013, on ICE Futures Europe in London. EU lawmakers are seeking to curb a glut of the contracts that pushed prices down about 80 percent since 2008, reducing the penalty for burning fossil fuels.