Carbon falls on weak Copenhagen deal
The failure of last week's climate change talks in Copenhagen has sent the price of carbon allowances to a six-month low, further hitting the credibility of the troubled trading system.
Prices on Monday on the ICE European Climate Exchange fell below €13 per tonne - higher than the trough of the recession, but far lower than the €30 seen last summer.
Europe is the only area to have an emissions trading scheme, where energy companies and heavy industry must own permits to cover the amount of carbon they emit.
But the price of carbon allowances has remained too low to give companies enough incentive to start reducing their emissions.
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