As the economic effects of the financial crisis deepen, it has become surprisingly cheap to pollute. Prices for carbon dioxide emissions permits have fallen below 12 euro per ton. Some companies are selling them to generate much needed cash. The ongoing financial crisis, as has become clear in recent weeks, is bad for both budgets and business. It is also, it turns out, bad for the environment. Emissions trading certificates have recently become much cheaper. Prices for carbon dioxide emission certificates in Europe have fallen drastically in recent weeks as companies have slowed down production to keep pace with falling demand. In addition, some companies have begun selling their certificates as a way of generating much needed -- and otherwise difficult to obtain -- cash. The result has been an oversupply of emissions certificates that has driven the price down below €12 ($15.58) for every ton of CO2 emitted. As recently as last summer the price was close to €30 ($38.94) per ton.
As the economic effects of the financial crisis deepen, it has become surprisingly cheap to pollute. Prices for carbon dioxide emissions permits have fallen below 12 euro per ton. Some companies are selling them to generate much needed cash.
The ongoing financial crisis, as has become clear in recent weeks, is bad for both budgets and business. It is also, it turns out, bad for the environment.
Emissions trading certificates have recently become much cheaper. Prices for carbon dioxide emission certificates in Europe have fallen drastically in recent weeks as companies have slowed down production to keep pace with falling demand. In addition, some companies have begun selling their certificates as a way of generating much needed -- and otherwise difficult to obtain -- cash. The result has been an oversupply of emissions certificates that has driven the price down below €12 ($15.58) for every ton of CO2 emitted. As recently as last summer the price was close to €30 ($38.94) per ton.
