(TIMES ONLINE) — Europe’s emissions trading system was in uproar yesterday amid a mounting scandal over “recycled” carbon permits.
Two carbon exchanges were forced to suspend trading as panic hit investors fearful that they had bought invalid permits.
BlueNext and Nord Pool, the French and Nordic exchanges, suspended trading in certificates of emission reduction (CERs) when it emerged that some had been illegally reused.
PID COMMENT: So this is where our world markets are headed? Recycled indulgences? Sheesh. Grab your toilet paper stash and head for the bunker!