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Merkel’s Greens Challenger Seeks CO2 Price Rises to Ditch Coal

May 15, 2013
(Bloomberg)

Chancellor Angela Merkel must ditch coal in favor of cleaner gas power plants to protect the climate, said the co-leader of Germany’s Greens party, urging a redoubling of efforts to raise carbon prices in the world’s biggest cap-and-trade program.

The Greens will push for more ambitious European Union climate targets for 2020 to help raise CO2 prices, said Juergen Trittin, outlining his party’s strategy for federal elections in little more than four months. A higher price for carbon permits would make burning coal more expensive and so less attractive, which the Greens would complement by setting strict efficiency standards for new fossil plants, he said.