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TOP STORY
Brussels caps 2027 ETS2 carbon allowances in line with planned emissions decline
The European Commission will cap the number of carbon permits in the incoming trading scheme for transport and buildings at just over 1 billion in 2027, in line with a gradual reduction of emissions under existing measures.
EMEA
Shift in sentiment in Brussels could lead to softening of ETS2, as EUAs set to rise more slowly -analyst
The European Union could make adjustments to, or delay the implementation of, its ETS2 mechanism amid a shift in priorities at the heart of the EU, an analyst said on Tuesday.
FEATURE: Industrial emitters shun EU carbon market, leaving analysts scratching their heads
Europe’s industrial slump is widely seen as the main driver behind weak demand for CO2 allowances on the EU carbon market, but some analysts suggest emitters may also be satisfied with the status quo while betting that Europe will eventually backtrack on its climate ambitions or – at the very least – adjust its policies.
EU parliament, countries agree to delay anti-deforestation law
Companies will have one more year to comply with the EU’s incoming deforestation law, under an agreement struck on Tuesday evening between the European Parliament and Council of member states.
EU earmarks over €4 bln from ETS revenues for cleaner cars
The European Commission has earmarked €4.6 billion from revenues generated by the EU’s Emissions Trading Scheme (EU ETS) to boost net-zero technologies like electric vehicles, paving the way for its upcoming ‘Clean Industrial Deal’ and related efforts to green the automotive industry.
First industrial cement CCS plant ready to test CO2 storage under North Sea
A German building company is on track to complete the first industrial-scale carbon capture and storage (CCS) plant for the cement industry, with the system now ready for testing.
EU-UK should align on carbon pricing, CCS to build thriving clean tech hub -report
The EU and UK should explore linking their emissions trading systems and cooperate on cross-border carbon capture and storage (CCS) under efforts to form a resilient clean tech hub on the global stage, an industry body said on Tuesday.
Vattenfall pauses CCS plans in Sweden -media
Swedish utility Vattenfall has paused plans for carbon, capture, and storage (CCS) plants in Sweden, citing the market as too “immature”, according to media reports.
Austrian startup launches rock weathering sensor in a bid to strengthen carbon removal offering
An Austrian startup has launched a live monitoring tool for carbon removals (CDR), aiming to align with major voluntary verification standards.
Tanzania launches $4.5 mln forest restoration initiative -media
Tanzania has announced a $4.5 million-funded programme to restore 5.2 mln hectares of degraded forests as part of its commitment to the African Forest Landscape Restoration Initiative (AFR100), according to local media reports.
Carbon accounting firm launches CSRD tool, appoints new CEO
A Stockholm-headquartered carbon accounting platform on Tuesday unveiled a new Corporate Sustainability Reporting Directive (CSRD) solution and announced the appointment of a new CEO.
Euro Markets: EUAs ease back as close correlation to TTF gas continues
European carbon prices eased on Tuesday, despite colder weather forecasts, as they continued to track TTF natural gas, which slipped marginally lower following two bullish sessions amid expected comfortable supply fundamentals for winter.
AMERICAS
FEATURE: No sign of Canada’s 2035 climate target, despite mandate by law
Canada’s 2035 climate target was expected Dec. 1 as per federal law, but legal ramifications resulting from the delay appear limited amid a challenging political environment for increased climate ambition.
PREVIEW: Washington’s Q4 auction expected to trigger reserve sale
Washington’s final current vintage auction for this year is anticipated to prompt a reserve sale that would release additional volumes, driven by the market’s need for increased permit supply.
PREVIEW: Programme review uncertainty tempers RGGI Q4 auction expectations
Traders expect RGGI’s last permit sale to clear discounted or near secondary market prices, with mild involvement from financial entities given uncertainty on programme review next steps.
Washington finalises regulatory updates for imported power under carbon market
Washington state on Tuesday adopted amended regulations to establish obligations in future for emissions associated with imported power from centralised electricity markets (CEMs).
Delays cause CO2 pipeline developer to withdraw permit application in Iowa
A midwestern carbon pipeline company has withdrawn its permit application to build a CO2 pipeline in Iowa after delays created uncertainty around the project’s timeline, the company said in state filings.
North Dakota coal plant CCS project loses lead developer despite DOE support
A large-scale carbon capture and storage (CCS) project at a North Dakota coal plant is in limbo as a co-developer withdrew from the project months after receiving federal support from the US Department of Energy (DOE).
California power emissions drop YoY in October despite renewables receding, natural gas demand rising
California electricity sector emissions fell year-on-year (YoY) in October even as the share of renewable energy declined and natural gas rose, according to data published Monday by the state’s grid operator.
ASIA PACIFIC
New Zealand auction partially clears with 4 mln NZUs sold
The final New Zealand ETS auction for 2024 has partially cleared, with 4 million NZUs selling at NZ$64 ($37.63), in line with market expectations.
New Zealand unveils details on limiting exotic forestry in ETS
The New Zealand government on Wednesday published long-awaited details on its plan to limit exotic forestry in the Emissions Trading Scheme based on Land Use Capability (LUC) class.
China sees first registered voluntary carbon project since market relaunch
China has seen the registration of a first voluntary project under its national offset scheme since the market relaunched earlier this year, moving one step closer to the issuance of new credits.
South Korea, UNFCCC to develop Paris-aligned voluntary carbon market
South Korea and the UNFCCC secretariat have agreed to jointly develop a global voluntary market aligned with the Paris Agreement, with detailed plans to be disclosed early next year.
Chinese conglomerate launches climate tech innovation programme
A Chinese tech major on Tuesday launched the second phase of its carbon accelerator programme, calling on proposals for low-carbon innovations globally, with the purpose of providing funding and support to the tune of tens of millions of dollars.
NZ bank commits fresh funds to agribusiness carbon cuts in updated sustainability targets
Westpac NZ has updated its sustainability targets for 2027, which include boosting sustainable lending to NZ$9 billion ($5.2 billion), almost half of which will go towards its agribusiness customers to reduce emissions, it announced Tuesday.
Indonesia must phase out 3 GW of coal annually to meet 2040 target, analysis finds
Indonesia would need to retire 3 GW of coal-fired power plants per year and replace it with 8 GW of renewables at the same rate if it is to achieve its 2040 coal phase-out target, according to an analysis published Wednesday.
INTERNATIONAL
Article 6 deal puts pressure on capital markets to deliver for climate, says legal expert
The deal reached at COP29 to finalise Article 6 of the Paris Agreement marked a pivotal moment for the establishment of international carbon markets. Now, the challenge lies in demonstrating that capital markets can deliver results for the climate, a leading international legal expert said on Tuesday.
Too much focus on host country risk in global carbon trade, says project developer
There is currently too great a focus on the integrity risks associated with host countries, and not enough on those associated with slow-moving policy on the development of global carbon markets, an executive from a project developer said on Tuesday.
Fragmentation of standards a fact of life in new carbon market landscape, say experts
Fragmentation in international carbon markets is now a “reality”, and it is unlikely that there will be a single global standard for credits as countries continue to take different approaches in terms of project development, according to panelists speaking at a conference on Tuesday.
VOLUNTARY
Carbon project ratings agency lays off dozens of staff amid voluntary market slowdown
A carbon project ratings agency has laid off dozens of staff members amid a company restructuring campaign, Carbon Pulse has learned.
AVIATION
Sustainable aviation too slow to take off, finds report
A mere 12% of airlines around the world are making “noteworthy efforts” to switch from kerosene to truly sustainable aviation fuels (SAFs), while the others are either buying too little or the wrong kind of alternative, according to an NGO ranking published on Tuesday.
BIODIVERSITY (FREE TO READ)
All our nature and biodiversity articles remain free to read (no subscription required). However, as of Oct. 24 we will require that all readers have a Carbon Pulse login to access this content in full. To get a login, sign up for a free trial of our news. If you’ve already had a trial, then you already have a login.
Biodiversity Pulse: Tuesday December 3, 2024
A twice-weekly summary of our biodiversity news plus bite-sized updates from around the world. All articles in this edition are free to read (no subscription required).
Investors with $6.5 trillion of assets see mixed results in seafood sustainability engagement
Some 35 investors representing $6.5 trillion in combined assets have engaged with varied results over a year-long outreach with seven seafood companies on sustainability issues such as supply-chain traceability to curb habitat destruction and overfishing.
COMMENT
A purposeful scientific community of practice can help carbon markets deliver impact at scale
Nature-based solutions, particularly those harnessed by the voluntary carbon market, play a critical role in addressing the urgent interlinked crises of climate change and biodiversity loss by mobilising private finance for conservation and restoration, fostering interdisciplinary research, and ensuring ethical practices, even as they face scrutiny and require continuous improvement to scale their impact effectively.
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EVENTS
Carbon Forward Middle East – Jan. 16-17, Abu Dhabi – Announcing Carbon Forward Middle East in Abu Dhabi, a great new event to explore carbon markets in the MENA region. We’ll be releasing more details about this conference soon. For now, put Jan. 16-17 in your calendar and email info@carbon-forward.com to express interest in attending, speaking, or sponsoring.
European Industrial Carbon Management Summit – Dec. 5, Brussels: The Zero Emissions Platform flagship event will bring together industry leaders, policymakers, civil society and scientific experts to discuss the future of industrial carbon management across Europe. Get ready for insightful keynotes, case studies from pioneering projects, and panel discussions on the deployment of industrial carbon management technologies. The Summit is the perfect space to connect with peers working at the forefront of industrial decarbonisation. Registrations are now open – do not miss your chance to be part of the conversation.
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SURVEY
CDR.fyi has launched the first-ever durable Carbon Dioxide Removal (CDR) Pricing Survey to gather insights on pricing perceptions within the CDR industry. The survey, now open until Dec. 6, targets both purchasers and suppliers of durable CDR with separate versions for each. It covers 15 CDR methods, including biochar carbon removal, DAC, and mineralisation, and is aimed at gauging optimal pricing and acceptable price ranges for various methods. The survey aims to determine the prices purchasers are willing to pay, the pricing suppliers need to expand operations, and demand signals across methods for 2025 and 2030. Responses will remain confidential, with data reported in aggregate and accessed only by non-conflicted team members. Results will be published post-survey, with a full report available to survey respondents and CDR.fyi premium users. The initiative seeks to provide essential pricing benchmarks to support carbon removal market growth.
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SUBSCRIPTION OFFER
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BITE-SIZED UPDATES FROM AROUND THE WORLD
INTERNATIONAL
ECT evolution – Green reforms to the Energy Charter Treaty (ECT), a pact historically protecting fossil fuel investments, have advanced as 51 member nations agreed to allow removal of fossil fuel protections, Climate Home reports. This marks a victory for the EU’s push, despite opposition from Japan and Kazakhstan, to align the treaty with climate goals. From Sep. 2025, the modernised ECT will provisionally apply but requires ratification by three-quarters of members to fully take effect. The key reform is a “flexibility mechanism” enabling governments to exclude fossil fuels from investment protections while maintaining protections for renewables. EU countries will phase out protections for new fossil fuel investments but retain them for existing ones for a decade. The stance of non-EU members, like the UK and Japan, remains uncertain. The ECT has been controversial for enabling lawsuits against governments over climate policies, including cases brought by British and German energy firms. EU countries debated reforming or leaving the treaty, concerned about a 20-year “sunset clause” binding them to its terms even after withdrawal. Despite reforms, several nations, including Germany, France, and the UK, have exited or plan to leave the ECT. A compromise allows EU member states to individually support modernisation while the EU itself begins the withdrawal process. Climate campaigners argue that the treaty remains outdated and misaligned with global climate objectives.
EMEA
Steel-y considerations – The European Commission will consider ways to extend measures to limit steel imports as part of an overall plan to protect the sector as it decarbonises, Executive Vice-President Stephane Sejourne said on Tuesday. Sejourne, the French commissioner responsible for the EU’s industrial policy, said he would prioritise a plan for steel and other metals at the start of his mandate, which would seek to alleviate high energy costs and protect against Chinese over-production. His comments were made during a visit of the ArcelorMittal plant in Ghent. In 2018, the EU put in place safeguard measures to limit the amount of tariff-free steel entering the bloc, to prevent a surge of imports after US President Donald Trump’s then steel tariffs effectively closed the US market. Yet under WTO rules, safeguards can only last eight years, and there are concerns Trump will put up trade barriers against the bloc during his second term in office. “We are looking into similar clauses that would have exactly the same impact, that are WTO compatible,” Sejourne said in Ghent. Faced with these challenges, the European Commission will have to decide to what extent the EU’s steel industry ends up shrinking, said Sejourne. (Reuters)
Spain lags – The country is on track to reduce its emissions by 74% by 2050 compared to 1990 levels, falling behind the milestones outlined in its National Energy and Climate Plan under EU policy, the consultancy DNV found in a report on Spain’s energy transition outlook. Spain cut emissions by 27% between 2005 and 2019, well above the EU average of 19%, but reaching net zero emissions requires an immediate scale up of renewable energy deployment and infrastructure enhancements, it said. Spain’s installed renewables capacity is expected to quadruple by 2050, putting it at the front of the European solar market. But the country’s short-term targets, including a 32% emissions cut by 2030, remain challenging – with DNV projecting only a 13% reduction by the end of the decade.
Insuring Italy – From Jan. 2025, Italian companies will be required to purchase insurance against natural disasters like floods and landslides, driven by the increasing impacts of climate change. According to Bloomberg, this law aims to address Italy’s significant “insurance-protection gap,” which leaves 80% of natural disaster losses uninsured. The measure is supported by a €5 bln reinsurance fund but faces concerns over potential delays and insurers’ reluctance to cover high-risk areas. Europe, the fastest-warming continent, has seen climate-related losses grow annually by 2.9% since 2009, reaching €50 bln in recent years. Catastrophic events such as wildfires, floods, and droughts have intensified financial risks, pressuring insurers to adapt. European insurers are exploring solutions like discounted premiums for risk-reduction measures and catastrophe bonds to share risks with investors, though such strategies remain underdeveloped compared to the US. Disaster insurance frameworks vary across Europe. Countries like Spain, France, and the UK offer state-backed or hybrid systems, while others, like Germany, lack similar support, leaving insurers exposed. Policymakers warn that without robust countermeasures, the insurance gap will widen, further endangering financial stability and credit systems.
Little wind – Britain has put dozens of power stations across the country on alert under its anti-blackout contingency plans as poor weather hit renewable energy generation, reports the Daily Telegraph. The National Energy System Operator, known as Neso, has sent out a notice to power companies telling them to be on standby if the grid needs an emergency boost. The “capacity market notice” was issued after Britain and Europe’s renewable energy capabilities were hit by the so-called “dunkelflaute” event – a German term which translates roughly as “dark wind lull” – and describes periods when wind speeds plunge, leading to little to no generation from turbines. Generators have been told to be ready to bring online back-up systems for when demand spikes later amid fears the amount of spare power capacity has grown unacceptably small. NESO said it “is confident that electricity margins are sufficient for this evening”. It added: “However, a capacity market notice (CMN) has been triggered by the automated system.”
Nuclear life extension – Delays to nuclear plants in the UK are giving Sizewell B a new lease of life, the Times reports. EDF is considering plans to keep the power station in Suffolk, which provides about 3% of the country’s electricity, going for an extra 20 years to underpin Britain’s net zero ambitions after building new plants has proven tricky. Nuclear power has fallen to about 14% of the UK’s electricity mix, down from about a quarter in the late 1990s, and of the five plants still running, only Sizewell B is set to still be running by decade-end. Efforts to revive the industry have been beset by delays and soaring costs, with Hinkley Point C, running up to six years behind schedule and billions over budget. Against this backdrop, the operators of Sizewell B will make the case to EDF in Paris to extend the life of the plant by another 20 years, which would cost roughly £700 mln.
Saudi DAC – Direct air capture (DAC) firm Climeworks will explore DAC technologies in Saudi Arabia in partnership with the King Abdullah Petroleum Studies and Research Center (KAPSARC) as per a memorandum of understanding signed between the two parties on Tuesday. The agreement outlines a roadmap to assess DAC deployment, focusing on availability of natural resources including subsurface CO2 storage, an announcement said. The joint effort also has support from the Saudi Ministry of Energy.
Carbon-negative beef – Amsterdam-based Farmless has secured a €1 mln grant from the European Regional Development Fund (ERDF) to further develop its technology to produce carbon-negative food ingredients by converting renewable energy and CO2. The grant will support the startup in validating its fermentation method for protein production, a process that does not require agricultural land, in an operational environment. Using natural microorganisms and a liquid mix of CO2, hydrogen, nitrogen, and renewable energy, the process requires up to 5,000 times less land than beef production, the company claims. The resulting protein, containing all essential amino acids, can be used to create meat, dairy, and egg alternatives. Farmless aims to reduce reliance on animal products and farmland, benefitting biodiversity and climate as a result. Key areas of investment for the ERDF include innovation, low-carbon initiatives, and SMEs.
ASIA PACIFIC
Managing mining – Australian mining and tech company Fortescue has received A$10 mln in funding from the Australian Renewable Energy Agency to develop, build, and demonstrate first-of-a-kind fast chargers for heavy mine site vehicles. Fortescue’s ‘Fast Charger for Heavy Battery Electric Vehicles’ project will see A$35.3 mln go towards developing 6 MW fast chargers, capable of charging 240-tonne battery-electric trucks in under 30 minutes. The project builds on an existing 3 MW prototype developed by the company. Once developed, the fast charger will be installed, demonstrated, and tested at Fortescue’s Hazelmere and Christmas Creek mine sites in Western Australia. The cash was awarded by the Powering the Regions Fund’s Industrial Transformation Stream. Australia’s iron ore mining produces some 5 MtCO2e in emissions per year due to diesel consumption. The project is expected to be completed in late 2025.
Fossil-free cement – India’s Ambuja Cements has partnered with Finland-based engineering firm Cookbrook to use the latter’s technology for zero-carbon high-temperature process heating in order to reduce its reliance on fossil fuels, according to a press statement. In the first phase, Coolbrook’s technology, which harnesses renewable electricity to power high-temperature industrial processes, will be integrated to reduce fossil fuel reliance and increase energy efficiency across Ambuja Cements’ manufacturing operations. Coolbrook’s patented technology has the potential to reduce global CO2 emissions in heavy industries by 30%, equivalent to more than 2.4 billion tonnes annually, the statement added.
Not adequate – A recent case study on the restoration of Zequ marshes in the Qinghai-Tibetan Plateau in China, although yielded positive results, the effects were not as significant as initially anticipated. The study conducted with the help of Asian Development Bank (ADB) aimed to quantify the restoration’s effectiveness. In terms of wetland condition, it found that by 2023, a total of 9.8% of the marshes showed improvement, and 19.3% of severely degraded marshes moved to a moderately degraded state. However, 85.5% of marsh grasslands remained unchanged, and 4.4% deteriorated further. In terms of carbon sequestration, it was estimated that restoring 15,092 hectares of marsh to an undegraded state could absorb up to 3 MtCO2e over 60 years. From 2016 to 2023, the actual carbon gain was 3,626.5 tCO2 annually – below the expected results due to the limited improvement in degraded marshes. However, the restoration efforts improved wildlife habitat and increased local awareness of environmental conservation. The study concluded that enforcement of policy was crucial, the lack of which hindered the complete success of restoration efforts. Implementing stricter enforcement of grazing bans and exploring performance-based incentive systems could help ensure better compliance with conservation policies and encourage sustainable practices.
Blue carbon startup – Japanese communications technology giant Fujitsu has spun out BLUABLE, a blue carbon services provider that seeks opportunities in the world’s ocean and coastal ecosystems, it announced Tuesday. BLUABLE produces kits to encourage seaweed bed growth and use relevant data for the creation of domestically issued J Blue Credits. The startup is conducting field trials for seaweed bed cultivation at 16 undersea locations in Japan. Fujitsu said it will provide its technology to BLUABLE, including a newly developed ocean digital twin.
Subsidy – Korea Environment Corporation (K-Eco), a government affiliate, has announced a subsidy programme for companies regulated by the national ETS to introduce carbon reduction facilities, according to a notice released this week. K-Eco has allocated a total budget of 107.9 billion won ($77 mln) for companies participating in the carbon market during 2025, the notice showed. The agency will accept subsidy applications until Dec. 20.
Successful bidder – Korea Southern Power, a power generation company under KEPCO, has been selected by the government as the first bidder for the world’s first clean hydrogen power generation bidding market, local media reported. The company will produce electricity using clean fuel that meets South Korea’s clean hydrogen certification standards, according to the country’s trade ministry. Commercial operation is scheduled to begin around 2028.
New package – The Asian Development Bank (ADB) and XacBank Joint Stock Company (XacBank) have signed a $50 million financing package to enhance financing for climate action and support micro, small, and medium-sized enterprises (MSME) in Mongolia, ADB said in a press statement. While ADB will contribute $40 mln to the package, the remaining $10 mln will be a concessional loan from the Canadian Climate and Nature Fund for the Private Sector in Asia (CANPA). Out of the total package, 70% will be dedicated to climate mitigation and adaptation projects, with the remainder allocated to multisector MSME finance, including lending to women-owned and women-led businesses, the bank noted.
JCM project – Japanese developer Green Carbon and energy firm Zyxsis Corporation have initiated a feasibility study on the creation of carbon credits through mangrove planting in the Philippines under the Joint Crediting Mechanism (JCM), according to a press release. The project aims to generate carbon credits by planting and conserving up to 5,000 hectares of mangrove forests that have been reduced by past logging and natural disasters, mainly in Quezon Province in the central part of Luzon, Philippines. The developer will conduct on-site surveys and evaluate specific candidate reforestation sites, reforestation scale, selection of appropriate species, and impact on biodiversity, while pursuing the possibility of obtaining the relevant JCM credits between Japan and the Philippines, it said.
AMERICAS
+1 to scrap the cap – Andrew Furey, premier of Newfoundland and Labrador, stated his opposition to efforts to cap production of oil and gas in the province on Monday, in response to the federal government’s proposed emissions cap on the sector. Furey said that the province contributes less than 1% of Canadian oil and gas emissions and produces one of the least-emitting products globally, adding that efforts to remain competitive must continue to attract further investment into Newfoundland and Labrador. He is the third provincial leader, following Premiers Danielle Smith of Alberta and Scott Moe of Saskatchewan, to publicly criticise Canada’s proposed emissions cap. The Alberta government has said the cap on emissions is also a cap on production and thus unconstitutional.
No carbon levy here – Saskatchewan has brought forward legislation to keep federal carbon pricing off of home heating bills on Tuesday. The SaskEnergy (Carbon Tax Fairness for Families) Amendment Act was introduced by Jeremy Harrison, minister responsible for provincial energy utility SaskEnergy. It is expected to save the average family approximately C$400 in 2024 and C$480 in 2025 with the expected increase in federal carbon pricing from C$80 to C$95 come April 1, 2025. Saskatchewan Premier Scott Moe first said in Nov. 2023 that the province would withhold payment of the federal carbon price since an exemption was carved out for home heating oil, largely used by residents in Atlantic Canada.
H2 for Argentina – The European renewable energy developer RP Global and GIZ, Germany’s development agency, are partnering to bring a pipeline of green hydrogen project to southern Argentina, the groups announced Monday. The partnership, facilitated by the German government’s International Hydrogen Ramp-Up Programme, will support Argentina in developing green hydrogen and ammonia projects for domestic use and for export to European markets. The partnership includes technical and economic analysis of the hydrogen production chain, a study on biodiversity and water in the southern region, and an analysis of Argentina regulations. In the first stage of the project, the partnership will aim to install 3 GW of electrolysers powered by wind farms and up to 1.7 Mt/yr of green ammonia.
Calling all BECCSworms – Texas’ Stephen F. Austin State University (SFA) has announced a partnership between its Arthur Temple College of Forestry and Agriculture and Elimini, a new Houston-based company focused on advancing CO2 removal and renewable energy through bioenergy with carbon capture and storage (BECCS) technology. The five-year collaboration includes a $50,000 commitment from Elimini to provide endowed scholarships for forestry and environmental science students interested in BECCS and sustainable biomass management, alongside support for research into carbon capture technologies.
INVESTMENT
Carbmee goes global – Carbon management company Carbmee has secured €20 mln in Series A funding to accelerate innovation and global expansion, it said in a release Tuesday. Carbmee supports clients including Schaeffler, Miele, Maersk, Coca-Cola, and Anglo American, to measure, manage, and reduce their carbon emissions, including complex Scope 3 (supply chain) emissions. The round was led by CommerzVentures, with participation from Fly Ventures, and the funding will help Carbmee continue to enhance its software and service offerings.
AND FINALLY…
Night train – Some railway companies in Europe are reviving their sleeper night trains for travel through the region as an alternative to the emissions-intensive alternative of flying, CBC reports. Up until the late-1990s, night trains were a popular form of transport, but the rise of budget airlines in the mid-1990s led to its decline. The costs of operating a night train also remain significant, particularly as airlines benefit from tax exemptions. Nonetheless, Austrian national railway company OBB is making efforts to bring back the form of travel at cheaper costs through offering semi-private cabins, marketed as its NightJet. One passenger said transport by NightJet was half the cost of a flight; another said the departure times were more preferable to flying. The company still relies on subsidies to break even, as Juri Maier, chairman of rail advocacy group Back on Track Germany told CBC that the market needs to change to enable significant adoption.
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