This is a fallout of the lack of demand coupled with economic turmoil in the European market, a major buyer of the CER certificates.
On November 3, CER prices on ICE touched their life-time low of $8.78 a tonne. Before the global financial crisis, in July 2008, prices had peaked to $ 41.72.
Earlier, several Indian companies generating carbon credit used to hold them and sell at an appropriate time. However, now that European market is passing through uncertainty, the selling pattern has changed.
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