Demand rebound for EU steel not yet in sight, but CBAM will help once effective
Persistent downside factors have deepened a crisis in the EU steel and are set to curb what the ETS-covered sector hoped to be a demand rebound in 2024, while the Carbon Border Adjustment Mechanism (CBAM) may fix the problem in the future, according to market data published on Thursday.
Read More8 TAKEAWAYS: Rocky road ahead for the EU’s 2040 targets and carbon management plan
The European Commission’s recommendations on Tuesday that the EU aim to reduce emissions by 90% by 2040 and deploy carbon capture to help get there marked the beginning of a rocky road of further climate negotiations.
Read MoreEU co-legislators reach provisional deal on net zero industry act
The European Commission, European Parliament, and Council of EU states reached a provisional political agreement on Tuesday to produce 40% of the bloc’s annual needs for net zero technologies domestically by 2030, defining a list of strategic and clean manufactures on which to focus.
Read MoreBrussels backs off agriculture emissions cuts in recommended 90% target for 2040
The European Commission on Tuesday recommended that the EU aim to cut emissions by 90% by 2040, but backed away from contentious measures to decarbonise agriculture, as farmers protested on the doorstep of the European Parliament building where the announcement was made.
Read MorePREVIEW: Brussels set to recommend emissions targets for 2040
The European Commission will on Tuesday present what is likely to be the last substantial climate action proposals before the European elections, tackling tough questions about how to decarbonise the hardest-to-abate sectors and get on track for net zero emissions by 2050.
Read MoreFarmer protests across Europe highlight challenge of tackling agricultural emissions
European farmers protested in Brussels for the third day in a row on Thursday calling for a redistribution of the budget, with climate and sustainability policy also a strong driver behind the backlash, as EU leaders headed to the city for a special economy-focused summit.
Read MoreANALYSIS: EU states plan policy changes to meet bloc’s 2030 emissions targets
Seven EU states are pinning their hopes on new climate policies to help get them on track to meet the bloc’s emissions reduction target of 55%, which they are currently projected to miss, their officials have told Carbon Pulse.
Read MoreEU adopts harmonised rules for ETS free allocations, cement benchmarks mostly unchanged
The European Commission adopted new rules on Tuesday to harmonise the free allocation of emission allowances under the EU Emissions Trading System, although the cement sector remains mostly untouched.
Read MoreEU needs to invest €40 trillion by 2050 to reach green goals -report
The European Union needs to invest €40 trillion by 2050 in order to reach net zero emissions while remaining globally competitive in line with the bloc’s strategic autonomy agenda, according to a new report.
Read MoreEU nations call for ambitious 2040 climate targets in joint letter
The European Union’s executive body, the Commission, should recommend an ambitious climate target for 2040, said the ministers of 11 member states on Friday, following a leak of the draft proposal seen by Carbon Pulse.
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