EU Fit for 55 climate package should be finalised by year-end, says Timmermans
The EU’s mammoth Fit for 55 climate policy package can become law by year-end, the European Commission’s climate chief Frans Timmermans said on Thursday as the bloc’s environment ministers discuss their negotiating stance for November’s COP27 UN climate negotiations.
Read MoreEU nations push for alternatives to MSR sale plan amid market concerns
Some 13 EU countries are eyeing alternatives to fund the bloc’s shift away from Russia fossil fuels amid concerns that a Brussels plan to sell MSR-held carbon units is too disruptive for the EU ETS.
Read MoreKey EU lawmakers back REPowerEU-aligned clean energy goals
The European Parliament’s industry committee (ITRE) voted on Wednesday to substantially raise 2030 headline targets for renewable energy and energy efficiency – a move in tune with the EU’s overarching objective to wean itself off Russian oil and gas by no later than 2027.
Read MoreBrussels’ MSR sale idea faces uphill battle as MEPs unite in opposition
An idea to fund the REPowerEU strategy by selling MSR-held carbon units looks set for a troubled path into law, with MEPs from across the political spectrum on Tuesday rallying against the ‘short-sighted’ measure they feel undermines the bloc’s carbon market and progress towards emissions targets.
Read MoreEU lawmakers to raise ambition on renewables, fear RePowerEU complications
EU lawmakers are likely to push for a tougher 2030 renewables target than member states at an interim vote this week, though Brussels’ REPowerEU plan to quickly ditch Russian fossil fuels is set to complicate work on finalising legislation.
Read MoreEU lawmakers seek to raise SAF blending targets
The European Parliament on Thursday greenlighted plans to force airlines to blend at least 2% of sustainable aviation fuels (SAFs) as early as 2025 and raise longer-term ambition for a law aimed at tackling one of the core drivers of aviation pollution.
Read MoreUPDATE – EU Parliament endorses plans to label gas and nuclear as green activities
The European Parliament endorsed on Wednesday controversial EU plans to label some nuclear and natural gas plants as climate-friendly investments.
Read MoreCLARIFICATION – EU lawmaker resolve against taxonomy may fall short -sources
The European Parliament could fall 60 votes short of rejecting EU plans to apply a green label to gas and nuclear investments, EU sources told Carbon Pulse on Monday, though this week’s ballot remains in the balance with up to 100 lawmakers yet to make up their minds.
Read MoreFrance proposes factoring inflation into RePowerEU’s MSR sale plan -Bloomberg
EU nations are examining an informal proposal that would amend the design of the distribution of REPowerEU disbursements, including some €20 billion stemming from the sale of carbon allowances currently held in the MSR, Bloomberg reported, citing a document.
Read MoreEU ministers seek automatic EU ETS supply injection to curb price spikes
EU environment ministers want an automatic EUA supply injection to prevent excessive price fluctuations in the bloc’s carbon market, according to a document published on Thursday that suggests legislators are all-but certain to agree to beef-up the market’s Article 29a mechanism.
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