14 days ago • Posted by William Ramstein
EU emissions dropped 8.7% in 2019 and even more during covid-19 era.
The most developed carbon market resides in Europe. It launched in 2005, but for many years has seen very low carbon prices, until recently. Low carbon prices from an over abundance of allowances supply had led to policy intervention changes back in 2018 where prices were suddenly tripled. Between 2018 and 2019 there was an 8.7% drop in emissions as seen in the next graphic, showing a strong reaction to the rise in carbon prices. @Refinitiv