Carbon price of €60/ton needed to hit targets say traders
Carbon brokers estimate that €60 per European Allowance (EUA) will be needed in the third phase of the Kyoto protocol if the 80% emissions reduction target is to be met by 2050.
Carbon will need to be priced at €60 per European Emissions Allowance (EUA) from 2013 onwards, in order to meet the EU's target of an 80% reduction in greenhouse gas emissions from 1990 levels by 2050, according to carbon traders surveyed in the International Emissions Trading Association's (IETA) sixth annual GHG market sentiment survey.
The figure is three-and-a-half times the current price (€16.70), and double the expected price for the third phase of the Kyoto protocol (2013-2020), which
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