ETS: Carbon price exceeds 100 euros per metric ton for the first time

The European carbon price exceeded the threshold of 100 euros per metric ton for the first time on Tuesday. The new record high – for the right to emit one ton of carbon within the European Emissions Trading System (ETS) – was 100.70 euros at midday on Tuesday. It is considered a historic and, for climate activists, psychological event. „This is an important signal for investments in climate mitigation: The tightening #CO2Budget is reflected in the rising prices,“ climate scientist Brigitte Knopf wrote on Twitter. Experts and analysts see high carbon prices as one of the most important tools to drive industrial transformation, as the cost of CO2 abatement falls in relative terms. Since the beginning of the year, the CO2 price in the ETS alone has risen by 20 percent.