EU carbon price increases following COP26

Last week the EU’s emissions trading scheme, one of the first in the world, reached a record carbon price of almost €67 a tonne in the first day of trading following the Glasgow summit, as factories and power station owners scrambled to buy enough permits to match rising post-pandemic emissions. The UK’s scheme, set up in the wake of Brexit, is expected to follow suit.

The Glasgow agreement lays the foundation for these markets to link up without the risk of double counting emissions savings – potentially enlarging the money-making opportunity for those able to reduce carbon emissions at speed and scale to a global level. 

Read more at The Guardian.