Price rally may renew concerns among industry and governments
21 February 2023 - 22:44London — The price of permits on the EU’s carbon market hit €100 per tonne for the first time on Tuesday, a milestone that reflects the increased costs that factories and power plants must pay when they pollute.
The more emitters have to pay for EU carbon permits to cover each tonne of C02 they produce, the greater the incentive to invest in low carbon technologies and switch to less polluting fuels. The €100 level has long been cited as a price that could incentivise some of the expensive technologies seen as necessary to limit global warming.
Such technologies could also receive a boost from new state aid or EU funding, as the bloc offers incentives to green industries, to avoid firms relocating to take advantage of US subsidies on offer to companies who develop such technologies in North America.
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