The global recession fears have spread to the European carbon market and led to a 5% decline in prices although there are no new dangers of an escalation in the Ukraine war or the impasse between the European Union and Russia over its fossil fuels.
Before prices for European carbon permits plummeted to 58 euros as a result of the Russia’s invasion of Ukraine, they climbed to nearly 100 euros in February as fossil fuel demand increased amid the energy crisis and the anticipation of Russia’s move on Ukraine.
