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EU carbon price hits record €50 per tonne on route to climate target


The European Union carbon price hit a record high of above €50 per tonne on Tuesday (4 May), a key milestone in what analysts say is likely a long-term climb towards the price levels needed to trigger investments in innovative clean technologies.
The EU carbon market is the bloc’s main tool for curbing greenhouse gas emissions that cause climate change, forcing power plants, industry and airlines running flights within Europe to buy permits when they pollute.
With the bloc striving to meet tougher climate goals – including a new target to cut net greenhouse gas emissions by at least 55% by 2030 – the market has found more impetus. ....

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