Carbon Hits New Records After Watchdog Finds No Market Abuse
- EU emissions permits rise to all-time high, nearing 70 euros
- ESMA says carbon surge is driven by politics and economy
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The cost of pollution in the European Union rose to new highs after a report by the bloc’s market watchdog dismissed concerns by some governments over abuse and the role of speculative investors in emissions trading.
Benchmark carbon permits rose as much as 1% percent to a record 69.77 euros a ton on ICE Endex on Friday, extending this week’s gains to 10%. The cost of polluting for manufacturers and utilities has more than tripled over the past three years.