
European governments will auction 926.2 million spot EU carbon permits next year under the bloc’s Emissions Trading Scheme (ETS), the European Commission said late on Monday.

European governments will auction 926.2 million spot EU carbon permits next year under the bloc’s Emissions Trading Scheme (ETS), the European Commission said late on Monday.

International negotiations on how to set up new carbon markets to cut greenhouse gas levels broke down over the weekend in Warsaw, sources said, after developing nations refused to progress the issue before rich nations increase efforts to cut their own emissions.