Environment & Energy Report

With Airlines Grounded, a Pollution Permit Auction Fails (1)

March 25, 2020, 6:47 PM

Airlines pulled back from bidding in the European Union’s auction for permits covering greenhouse gas pollution, another indication that demand for energy is dropping rapidly.

None of the four bidders for carbon emissions allowances were successful in a contest for airline carbon allowances run by ICE Futures Europe on Wednesday. It was the second auction failure in a little more than a week.

With many flights grounded and carbon prices on the slide, demand for the securities is weakening. Thousands of industrial sites, power generators and airlines are required to buy the credits for their greenhouse-gas pollution. But with the...

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