Weak national energy policies may cause much higher EU ETS2 prices -report
Carbon allowance prices under the new EU Emissions Trading System, ETS2 could be almost four times higher if national policymakers don’t implement robust clean energy and efficiency policies across the bloc’s 27 countries, new research has found.
Read MoreLawmakers vote 83% mandatory annual filling target for EU gas storage
A draft law to amend the bloc’s gas storage regulation cleared the first hurdle in the European Parliament, with members of the industry committee agreeing on Thursday to extend by two years the storage targets introduced in 2022 following Russia’s invasion of Ukraine, while lowering the mandatory annual filling target from 90% to 83%.
Read MoreEU’s next Paris commitment coming “in good time”, Commission official promises
The EU will submit its Nationally Determined Contribution (NDC) “in good time”, anchored by a new target for emissions reductions, a European Commission official promised lawmakers in Brussels on Wednesday, amid calls from some for a more relaxed approach.
Read MoreUN, Brazil in diplomatic push to collect NDCs on time for COP30
The UN and Brazil plan to push countries to submit their Nationally Determined Contributions (NDCs) to the Paris Agreement by the end of the summer, officials told the media on Tuesday.
Read MoreWorld’s top emitters still ambiguous on NDC ambition, says WRI
While some major emitters have set near-term climate targets that could be considered ambitious using certain criteria, none feature goals for 2030 and 2035 that are sufficiently aligned with the Paris Agreement on closer inspection, the World Resources Institute said on Tuesday.
Read MoreAuditors need to take better account of company climate risks, think tank says
Auditors need to fully consider and disclose information on climate-related matters in their reports, a think tank warned on Thursday, based on an analysis of audits for more than 100 “carbon exposed” companies.
Read MoreUPDATE – European Commission finalises loosening of EU’s anti-deforestation law
The European Commission has added further simplifications to the EU’s anti-deforestation regulation, reducing what international trading partners perceived as an administrative burden.
Read MoreCBAMs risk generating trade barriers, in the absence of MRV harmonisation -report
Implementing carbon border adjustment mechanisms (CBAMs) without first addressing interoperability could generate trade barriers that impede economic and climate goals, according to a study released this week.
Read MoreEU ETS2 could lead to higher energy bills and limited decarbonisation, say researchers
The new EU Emissions Trading System (ETS2) for building and road transport fuels risks creating a boomerang effect with prices modelled to start at well over €100 per tonne of CO2, unless there are further investments and social policies to support European households, according to new research.
Read More2024 was officially warmest year in Europe, with East-West divergences -report
The impacts of climate change in Europe are clear, and go from record temperature to excessive rains and worsening environments all across the EU, according to the bloc’s Copernicus Climate Change Service (C3S) and the UN’s World Meteorological Organization (WMO).
Read More