Germany Puts Industry at Core of EU Carbon Market Reform

Germany wants the European Union to place industrial transition to cleaner energy at the heart of a planned review of its carbon market, after rising power and fuel prices prompted criticism of the bloc’s key climate tool.

In July, the European Commission is due to propose changes that adjust the EU Emissions Trading System to a new goal of reducing greenhouse gases by 90% by 2040 from 1990 levels. Berlin wants targeted amendments to the cap-and-trade carbon program to strengthen the bloc’s competitiveness and safeguard its industrial base, according to a document seen by Bloomberg News.