Higher Emissions Targets May Push Credits to $175 a Ton

The head of the International Energy Agency has said that the price of carbon credits is still too low, and must rise to $175 a metric ton in order to halve global emissions by 2050.

The European emissions trading program, the world’s largest carbon credit market, isn’t providing a reliable guide on the cost of pollution to promote more investment in renewable energy and other emission-cutting technologies which generate carbon credits, Nobuo Tanaka, executive director of the Paris-based agency, said in an interview in Singapore today.

"It’s still too low," Tanaka said. "The current level of carbon credit price is not necessarily a good reference for the usefulness of the system."

EU allowances for December 2010 delivery traded at 14.57 euros per carbon credit on November 1st 2010 on London’s European Climate Exchange.

"To achieve a 50 percent reduction in carbon dioxide emissions by 2050, you need it to be $175 per carbon credit," Tanaka said. More stringent emission reduction targets would lead to higher prices, he said.

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With 30 years bluechip experience, Carbonex is an industry-leader in sourcing and trading carbon credits. With offices in Frankfurt, Luxembourg and Berlin, and access to Bluenext, Carbonex GMBH are ideally placed to help investors profit whilst helping the environment. Carbonex works only with Gold Standard and VCS verified projects, providing access for private investors to the massive growth in the carbon markets.

Steven Dance
Carbonex
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Kurfurstendamm 21
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Berlin
0845 519 6142
marketing@carbon-ex.de

This release was published on openPR.