The FT reports that the president of BusinessEurope, the EU's largest employer's group, has warned the European parliament against meddling in the carbon market to prop up slumping prices.
According to the paper, Philippe de Buck in a letter to parliament said moves to withdraw carbon permits to bolster prices would "create further uncertainty and price volatility, and establish a risky precedent of rapid political interference in the market".
The economic crisis has dampened industrial activity and led to carbon reaching a knock-down price of €7 per tonne, leading parliament's environment committee to approve a resolution calling for the removal of more than one billion surplus permits.
