The carbon market will feel the effects of the global recession, with the EU emission trading scheme (EU ETS) shortfall set to drop dramatically, industry experts predict.
IDEAcarbon, a carbon research firm, reduced its estimate for EU emission allowance (EUA) shortfalls to 115 million tonnes per year between 2008-12, which is a 44% drop from estimates made in December 2007.
The forecast says that EU industrial output will grow at 1% in 2008, and shrink by 0.7% in 2009. "This will reduce the level
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