Merkel Hopes Germany to Tackle EU Carbon Market Fix by Autumn

German Chancellor Angela Merkel said slower-than-expected growth in the European Union has dragged down the price of permits in the bloc’s emissions trading system.

Merkel said she hoped Germany would be able to tackle a draft plan to bolster prices in the EU carbon market no later than the autumn. Merkel made the comments on the EU proposal, known as backloading, at a climate conference in Berlin today.