EU carbon price passes symbolic 100 euros as reforms bite

By FRANK JORDANS
Associated Press

BERLIN (AP) — The price of releasing planet-heating carbon into the atmosphere rose above 100 euros in the European Union for the first time this week. Experts said Wednesday this is a signal that speaks for the bloc’s efforts to make polluting costlier. The EU has laid down a path to become carbon neutral by 2050, meaning it would only emit as much carbon dioxide as can be absorbed again. The price, calculated per ton of carbon dioxide, had long remained under 25 euros before rising sharply about two years ago. It had hovered around 90 euros for the past year until Tuesday. The bloc’s executive Commission wants European industries to reduce their emissions 62% by 2030 from 2005 levels.