Petter Rudwall on Unsplash
EU agrees to cut emissions by 55% by 2030 — carbon prices will now triple, says analyst
Leigh Collins, Recharge Energy Solutions
EU leaders have agreed to cut the bloc’s net emissions by at least 55% by 2030, compared to 1990 levels, pushing the European carbon price to an all-time high of more than €31 ($37.50) per tonne.
The move will increase the carbon price — which makes polluting technologies more expensive and therefore encourages cleaner energy — throughout the 2020s, tripling from the sub-€30 price levels seen before the agreed emissions cut, according to analyst Refinitv Carbon Research.
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