CO2 prices hits record level despite Covid-19
Opposite of what dismal economic forecasts should imply, the EU's price on polluting has reached EUR 30 per tonne of emitted CO2 for the first time in 14 years. The question is whether this is tied to real green allegiance or financial speculation.
In early April the well-recognized analysis firm, IHS Markit, released a gloomy prognosis for the EU's CO2 market. Economic fatigue, lower electricity usage and decimated air travel demand caused by the corona crisis along with an unprecedentedly steep oil price dive and higher margin requirements in financial markets sent the "perfect storm" toward the market.
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