Carbon prices push €30/t on policy tightening

Carbon prices tested €30/t for the 3rd time this year on Monday as EC policy makers discuss further plans to further tighten the market. Measures considered include a one-off reduction in allowances and accelerating the fall of the annual cap to hit a 55% reduction in emissions by 2030, up from a 40% target currently. Previous policy reforms saw prices increase almost 6-fold from 2017 before losing steam however the latest policy proposals has seen renewed support for carbon.