As of February 2023, the price of carbon in the European Union’s Emissions Trading System (EU ETS) has exceeded 100 euros per metric ton of CO2. That’s a significant increase from just a few years ago when the price was around only 10 euros per ton. The EU carbon price has experienced these fluctuations due to a variety of factors. These include policy changes, market forces, and global trends. …The system covers emissions from power plants, energy-intensive industries, and commercial aviation. …One of the main drivers of the high carbon price in the EU ETS is the region’s commitment to cut GHG emissions by at least 55% by 2030 compared to 1990 levels. …However, concerns have been raised about the impact of this on consumers and businesses. To address these concerns, the EU has implemented measures to protect vulnerable industries and consumers.