Merz Says Europe Should Be Open to Revising Carbon Market

German Chancellor Friedrich Merz said the European Union should be open to revising or postponing its carbon market if it doesn’t enable the industry shift to clean production.

The carbon market is rising up the bloc’s political agenda as the European Commission seeks to reform its flagship tool to reduce pollution. At a heavy industry summit in Antwerp on Wednesday, the market came under criticism for high carbon prices that undermine the competitiveness of companies in sectors from chemicals to paper and cement.