06/01/2021 (Agence Europe) – The price of carbon under the European Union’s Emissions Trading Scheme (ETS) reached a record high of up to €34.25 per tonne of CO2 on Monday 4 January, according to Reuters. Although the price of quotas then fell slightly, it remains at around €33 per tonne. Analysts expect this upward trend to continue in 2021, as the EU plans in June to strengthen its climate policies by presenting a series of initiatives aimed at aligning EU legislation with a net reduction in EU greenhouse gas (GHG) emissions of at least 55% by 2030 (see EUROPE 12621/1). This ‘Fit for 55’ package will include a revision of the European directive (2003/87) establishing the ETS system (see EUROPE 12592/17). (DG)