So this is very interesting.
It shows why COP26 will be successful in the long-term. Other countries in Europe have tried a floor price, but it never worked when heavy industry Germany with its coal power was not playing ball.
For Germany to get in the game and set a floor, is...err...game-changing.
It means carbon traders can be sure there will be no big drop and indeed many will now expect the price to go 2x to 3x from here - nice for trading.
More widely it shows there is lots of money to be made from the carbon transition - more than say pouring money into arms or oil. Which is why even China and Russia are relatively keen, they can sense there is a lot of industrial kit to sell to Europe and the US - all whilst creaming it on selling coal and gas at massive margins for another 20 years or so.