HANOVER, Germany Oct 16 German Chancellor
Angela Merkel said on Wednesday that Europe needed a certain
degree of backloading for CO2 emissions certificates, showing
more explicit support than previously for an EU proposal
designed to lift carbon prices.
"We need a degree of backloading of CO2 emissions so that
the certificate price can reach a reasonable level again,"
Merkel said at a union event in the western city of Hanover,
ading the European Union also needed a CO2 goal for 2030.
German support for the European Commission's backloading
proposal to temporarily withdraw 900 million allowances from the
market is crucial for the law to pass. But the plan has stalled
due to lengthy negotiations between German political parties
about forming a new government after last month's election.
The EU benchmark carbon price was up nearly 8
percent at 5.35 euros a tonne at 1301 GMT, shortly after