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EU confirms carbon market surplus grew in 2020

EU confirms carbon market surplus grew in 2020

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BRUSSELS — Around 1.579 billion permits are in circulation in the European Union’s carbon market, up from 1.385 billion last year, the European Commission said on Wednesday.

Based on that surplus, 378.9 million permits will be withheld from carbon market auctions from 1 September 2021 to 31 August 2022, and placed in the market stability reserve, the Commission said in a statement published after trading in the market closed for the day. (Reporting by Kate Abnett)

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Source: EU confirms carbon market surplus grew in 2020

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