European carbon prices hit record high after German price floor pledge

© Reuters.

LONDON (Reuters) – The benchmark European carbon contract hit a fresh record high of 73.18 euros a tonne on Wednesday after Germany’s incoming coalition government said it would prevent carbon prices in its country from falling below 60 euros/tonne.

Germany, which is Europe’s biggest emitter of carbon dioxide, said it would implement the measure if the European Union cannot agree on a minimum price in its Emissions Trading System.

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