Carbon price of €60/ton needed to hit targets say traders

Carbon emission
Carbon price may need to be €60 in 2013

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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