Carbon auction on regulated exchange

The first carbon auction held on a regulated exchange just concluded in Brazil. 800,000 tonnes of carbon rights were sold by the City of Sao Paolo which is earning them from power generation from methane released by a massive urban landfill. The winning bidder, Fortis a European bank, paid € 13 million or about € 16.25 per tonne; carbon is now trading around € 21 per tonne so it seems like a good investment. The Brazilian Mercantile and Futures Exchange expects to have another 10 carbon auctions in the coming year.

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