Finance
Carbon Collapse Signals European Industrial Energy Use Falls
- Canceled carbon allowances auction suggests weak demand
- Commerzbank analysts see commodity markets in ‘panic mode’
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Plunging demand for carbon allowances signals that industrial use of energy is declining as companies shutter factories and reduce workshifts across the European Union.
Stung by the coronavirus pandemic, European nations are increasingly locking down sections of their economy to keep people apart and slow the spread. That’s led to less need for pollution certificates as factories and businesses curtail emissions by shutting down.