Politics
EU Is Monitoring Carbon Market Situation in ‘Challenging Times’
- Commission says coronavirus is causing major economic shock
- Carbon prices in Europe slumped by most since 2014 last week
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The European Union’s executive arm is monitoring the developments in the world’s biggest carbon market after concerns over the impact of the coronavirus on the economy and industrial output slashed prices of allowances last week by the most since 2014.
“We are aware that these are challenging times for financial markets, including the carbon market,” the European Commission said in a reply to questions from Bloomberg. “We are following the situation closely.”