Carbon market heading for historic tipping point

Quick Summary:

The cost of emitting carbon dioxide into the atmosphere is set to decouple from gas prices in the European Union (EU), marking an historic shift in the dynamic between the two markets, according to the Europe, Middle East and Africa head of natural resources research at Goldman Sachs Group Inc.

At the same time, market participants have been buying allowances in anticipation of higher prices, Della Vigna said.

That has major implications for inflation, and will ultimately have a big impact on carbon prices, Della Vigna said.

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Category: EconomyBusiness

Markets: MalaysiaUkraine

Topics: /Business/Business News EUEmissions EnergyTransition GasPrices NetZero CarbonPricing Energy Decarbonisation CarbonMarket

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-07 @ 00:00:00 (11 hours ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Article Length: 747 words

Reading Time: 5 minutes read

Sentences: 28 lines

Sentence Length: 27 words per sentence (average)

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Copyright Owner: © The Star

News ID: 21960494

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