Politics
EU Carbon Rises to Record as Germany Considers Floor Price
- EU carbon futures rose 5.8% to a record 73.18 euros per ton
- A rising carbon price is key to Europe’s climate goals
Smoke emissions at a power plant.
Photographer: James Jordan/Bloomberg
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European carbon rose to a fresh record after Germany said it may take measures in the next few years to establish a floor price for emitters in Europe’s largest economy.
The benchmark contract added as much as 5.8% to a record of 73.18 euros ($81.98) per metric ton on ICE Endex. The move in Germany adds focus on higher carbon prices after the European Union made the market a central part of its ‘Fit for 55’ package to accelerate pollution cuts this decade.