Emission permits for December 2008 in Europe fall to a week low
Permits for 2008 delivery fell 35 cents, or 2.2%, to €15.65 ($20) a metric ton, according to prices from the European Climate Exchange in Amsterdam on Bloomberg at 5:39 p.m. local time, their lowest since October 4. They've fallen 19% so far this year. Permits for December 2006 fell 5 cents to €12.45. The United Nations Clean Development Mechanism Executive Board, which oversees the creation of some Kyoto Protocol credits, issued 4.47 million certified emission reductions, or CERs, last month, according to a UN Web site. That almost matched the record month in May, when 4.5 million were issued. Emission prices can influence power prices across Europe. EU factories and power stations can use project or granted credits to comply with environmental laws designed to curb global warming. Each CER is the equivalent of a metric ton of carbon dioxide saved. A total of 16.5 million CERs were issued from 81 projects as of on Tuesday. Traders who got issued credits can lock in profit on those credits by selling EU allowances forward. (Bloomberg)
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.