CO2 allowance has reached an all-time high!

The CO2 allowance for the European Union has reached an all-time high of €99.99 per tonne.

That will make most industrial production and the whole energy sector more expensive in Europe, with the magic barrier of €100/t approaching in the near future. Would that make the continent’s industry close down and make the EU more dependable on Asia?

CO2 allowance for the European Union (W1); source: Reuters Eikon
CO2 allowance for the European Union (W1); source: Reuters Eikon