Carbon prices in Europe highest in two years

Carbon prices in the European Union have hit their highest level in two years on the back of spiralling oil prices.

The benchmark EU carbon contract for December delivery of EU allowances climbed to €27.54 on the European Climate Exchange – Europe's bourse for carbon credits - on Friday (6 June), according to Carbon Positive, a carbon offset management company.

The price is the highest carbon allowances have seen in 25 months, having risen some 40 percent in the last four months ...