A significant 11.1% reduction in emission allowance prices was recorded in June, according to data obtained by the Cyprus News Agency.

Specifically, the price of emissions in the EU Emissions Trading System (EU ETS), known as the "Emissions Exchange," which involves the allocation and trading of greenhouse gas emission allowances across the EU, stood at €66.97 per ton of carbon dioxide (tCO2) on June 18, down from €75.35 per tCO2 at the beginning of the month.

In the first half of 2024, according to the data, there was an increase of 5.5%.

However, emission allowance prices in 2024 are significantly lower than those observed in previous years.

In 2023, the price of emission allowances recorded a significant decrease of 11.7%, having first exceeded €80 within the year before settling at €66.49 at the end of the year.

Higher prices were observed in 2022 when the price of emission allowances ranged between €77 and €88 per tCO2.

It is noted that the price of emission allowances in the European Emissions Exchange soared by 128.3% in 2021, reaching €84.10 at the end of the year.