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Merkel raises hopes for EU carbon fix

2013-05-07 04:37:07| Climate Ark Climate Change & Global Warming Newsfeed

BusinessGreen: German Chancellor Angel Merkel raised hopes for Europe's flagging emissions trading scheme (ETS) late last week by calling for action to be taken this year to revive plans to tackle the over-supply of carbon allowances in the market. The news that Europe's largest economy might be shifting behind a fix for the EU ETS sent prices of carbon allowances up 21 per cent on Friday to well over EUR3.5 a tonne. Germany's environment and economy ministers had been divided on EU plans to limit the supply...

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