Carbon Hits Record 50 Euros on Tighter Pollution Rules (2)

May 4, 2021, 10:57 AM

The cost of pollution in Europe has surged more than 50% this year, signaling that the region’s tougher climate policies are starting to make a difference.

Futures in the region’s carbon market, the world’s biggest, exceeded 50 euros ($60) per metric ton for the first time on Tuesday. Rising prices make it more expensive to release carbon dioxide into the air and force industry to look for cleaner ways to stoke their furnaces and keep the lights on.

And the rally has further to go, according to Ulf Ek, chief investment officer at London hedge fund Northlander Commodity Advisors...

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