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Record European carbon price after new German government

2021-11-25T13:11:30.435Z


The European carbon price broke a new historic high on Thursday the day after the announcement of a new government coalition in Germany ...


The European carbon price broke a new historic high on Thursday the day after the announcement of a new government coalition in Germany giving pride of place to the defense of the environment.

So up 2%, it reached 74.39 euros per tonne shortly before 12.50 p.m. in Paris, a record.

For Barbara Lambrecht, analyst at Commerzbank, the price of carbon "

is stimulated by the coalition agreement reached Wednesday in Germany, which provides a high priority to carbon pricing

."

German Social Democrat Olaf Scholz on Wednesday announced an agreement to take the head of the first post-Merkel government, with the Greens and the Liberals.

Read also Energy price: Pascal Canfin against "the extension of the carbon market to heating and transport"

After several weeks of negotiations, these three formations, ranging from the left for the Greens, to the center left for the Social Democrats, to the right with the liberals, have found an agreement which gives pride of place to environmental protection. : the Greens are guaranteed access to the Ministry of Foreign Affairs as well as a "

super

" Ministry of Climate and the Economy.

Upward slope for the carbon price

"

The coalition intends to campaign for a minimum price in the European Union

", resumes Barbara Lambrecht and "

if no agreement can be found at European level, national measures (such as the cancellation of quotas or a minimum price) must guarantee a carbon price of 60 euros

”.

Read alsoThere will be no energy transition without a high carbon price

Via the European Emissions Trading System (ETS), companies in the energy and industrial sectors receive rights to emit CO2, and must purchase additional rights if they want to exceed their allowances. a price that fluctuates according to demand.

Putting a price on the ton of CO2 released into the atmosphere is a way of taxing the most emitting energies, with the aim of encouraging consumers and businesses to use clean energies.

The price of carbon has more than doubled since the start of the year, when it was barely above 30 euros per tonne.

Source: lefigaro

All business articles on 2021-11-25

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