Carbon Price Crash Threatens EU Transition Funds

The price of carbon dioxide on the European Union’s emissions trading markets, ETS, has taken a bad tumble. On the face of it, this is good news—it means industries covered by the scheme are emitting less. But in this case, fewer emissions mean less money for the transition. Earlier this year, the price per carbon permit on the ETS dropped to the lowest in over two years, at 55 euro, equal to some $58. The drop came as a surprise to ETS architects and supporters in Brussels, who had plans for much higher emission prices with a view…