EU's Carbon Market Under Scrutiny: Possible Revisions Ahead

German Chancellor Friedrich Merz suggested the European Union's carbon market might be revised or delayed if it proves ineffective. Speaking at an industry summit, Merz emphasized the need for CO2 reduction tools that enable companies to achieve CO2-free production lines, advocating openness to change.

German Chancellor Friedrich Merz raised concerns on Wednesday about the effectiveness of the European Union's current carbon market. Speaking to industry leaders in Antwerp, he suggested the market might need revisions or delays if it fails to adequately reduce CO2 emissions.

The EU's carbon market is designed to decrease CO2 emissions while enabling companies to transition to CO2-free production lines. However, Merz highlighted potential shortcomings in its current implementation.

Merz urged a review of the system, stressing the importance of keeping an open mind about revising or postponing it if necessary to achieve environmental goals.

(With inputs from agencies.)