Falling oil prices and Greek crisis a boon to carbon traders

June saw the highest ever volume of carbon allowances traded in the European emissions market, as falling oil prices and concerns about Greece's ailing economy drove a flurry of activity, according to a new analysis.

Bloomberg New Energy Finance (BNEF) yesterday released figures showing volumes on the Intercontinental Exchange (Ice) – which accounts for about 91% of the EU emissions market – reached 654 million tonnes of CO2 for June, beating the previous March high of 584 million tonnes.