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Environment & Energy Report

EU Seen Using Carbon Markets to Tighten Climate Ambition

Dec. 2, 2019, 5:35 PM

The European Union will only use carbon markets under the Paris climate deal to achieve even tighter emission-reduction targets, according to Germany’s climate minister.

The EU “would use these market mechanisms exclusively to increase our ambition” by tightening emission-reduction targets, Environment Minister Svenja Schulze said in an official document seen by Bloomberg News.

Almost 200 nations are meeting for two weeks for United Nations climate talks starting Monday. The conference in Madrid is aiming to draw up rules for carbon market mechanisms under Paris, Schulze said. That’s something envoys have so far failed to do after several years trying.

German...

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