Merkel Backs EU Carbon Fix in First Post-Election Speech
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German Chancellor Angela Merkel came out in favor of a European Union proposal to bolster the region’s carbon market, triggering the biggest jump in emission prices in more than three months.
Merkel’s comments are her most explicit backing yet for moves to address an oversupply in the 53 billion-euro ($72 billion) cap-and-trade program, an emergency fix known as backloading.