Reuters reduces carbon market coverage, journalists leave

London-based correspondents Ben Garside and Michael Szabo have left Reuters. Szabo said in a message to colleagues: “After 9.5 years with the company, we’ve decided to part ways, in part due to its decision to reduce its European carbon market coverage. Friday was also my colleague and Reuters carbon correspondent Ben Garside's last day with the firm."

A senior editor said climate change is a big global issue which Reuters continues to cover. “Carbon markets are a market just as the stock market or the gold market or the forex market,” said the editor, who requested anonymity. “With our given resources, we have to prioritise reporting strength where it will have the greatest impact. Over the past few years, carbon prices have collapsed and so has trading volume. The market is tiny compared to the others we cover.”

Prices for EU carbon allowances are now included in Reuters’ UK gas report and European power report.

A source inside Reuters said Stian Reklev, carbon correspondent in China, was also leaving. ■