The European Investment Bank cut its supply of 2013 carbon permits by 80 percent on Dec. 20, the same day the price of the benchmark 2012 contract posted a record one-day jump and recorded all-time high trading volume. The bank, mandated to sell permits on behalf of the European Union to raise funds for carbon capture and renewable energy projects for climate protection, cut supply to 200,000 metric tons on Dec. 20 from 1 million tons a day earlier, according to a statement published yesterday. The 2012 contract surged a record 21 percent on ICE Futures Europe on Dec. 20 after the European Parliament’s environment committee backed a draft rule requiring the bloc’s executive to propose a temporary cut in permit supply. The bank sold at 9.38 euros ($11.95) a ton, 22 percent more than the price it achieved Dec. 19, according to the statement.
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