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Europe’s Carbon Price Hits New Record as Coal Drives Emissions

  • Carbon permit futures climb on demand for polluting coal
  • EU climate policies will cut emissions in the long term
Updated on

Europe’s carbon price jumped to a record as the region’s energy crisis is driving up demand for some of the most polluting fuels.  

Businesses are burning coal and even oil to keep power stations and factories running while cleaner-burning natural gas becomes increasingly scarce. The situation threatens to push up Europe’s carbon footprint this year even if soaring energy prices and shortages force industries to shut.