European Union carbon permit prices trade at around €75 per metric ton in May 2026, up slightly from April. The European Commission releases updated free allocation benchmarks for industry, potentially saving companies €4 billion in carbon costs. Brazil, China, and the European Union launch a global carbon market coalition, open to all countries with domestic carbon pricing. Analysts cut their 2026 price forecast from €92.65 to €80.61 per metric ton, citing policy uncertainty and weaker industrial demand.