A draft policy document seen by Reuters news agency shows that Germany is considering a proposal for a European-wide minimum carbon price.
Germany is motivated by the failure of the European Emissions Trading Scheme, which has so far failed to effectively cut carbon dioxide in the bloc.~
The government wishes to reform the scheme to help create tightness in the market for carbon emissions permits which polluters must hold to cover their output and thus drive up prices, said the document for a policy up to 2050.
In the document, an alternative paragraph yet to be decided on said the government would consider strengthening the ETS “by introducing a Europe-wide minimum price” alongside other measures to boost industrial efficiency. In text not marked as still under discussion, it suggested measures to boost industrial efficiency and thereby create emissions savings, to monitor emissions better and to set financial incentives on reducing environmental damage.
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