Germany not doing fair share endangers EU climate goal

Germany’s need will equate to around 70% of available credits, triggering competition with other failing countries and likely driving prices higher, T&E said. — Bloomberg

BRUSSELS: Germany is set to fall so far short of its climate obligations for sectors like transport and buildings that it risks triggering a damaging race for carbon credits across the European Union (EU).

Twelve EU nations are set to miss their emissions-cutting targets under the bloc’s Effort Sharing Regulation, according to an analysis by T&E, a non-profit. Those legally binding rules aim to curb carbon dioxide in sectors not covered by the EU’s carbon market.