The price of carbon hit a record low in Europe on Monday as the over-supply of emissions permits during the global economic downturn continued to undermine the carbon market.
The price fell below 4.8 euros in early trading, before recovering to above 5 euros by late afternoon.
Carbon permits are a mechanism designed to reduce carbon dioxide emissions, as companies have to pay to emit C02.
A sharp drop in demand for energy has led to a massive oversupply of permits.
Critics of the EU's Emissions Trading System also argue that the European Union issued too many permits in the first place.
The EU has proposed freezing up to 900 million permits to tackle this oversupply.THS CARBON-TRADING MARKET IS A PHONY TRUMPED UP MARKET BASED ON A LIE AND CRONYISM.
IT WILL FAIL AS SURELY AS RED CHINA AND THE USSR DID.