G7 energy ministers fail to set 2030 coal exit deadline, scale back carbon price ambitions
G7 energy ministers pledged on Friday to ditch coal-fired production but failed to set the hard 2030 deadline that hosts Germany had crafted in a draft agreement text.
Read MoreProgressive MEPs fear REPowerEU will scupper chances of higher ETS ambition
A European Parliament compromise on the EU ETS reform might lose relevance in the run-up to a vote by the full assembly next month in the wake of proposed changes to the supply-managing MSR via the REPowerEU strategy.
Read MorePath for EU’s MSR carbon sale plan unclear as nations fear revenue loss
The European Commission’s idea to raise €20 billion by selling carbon allowances held in the MSR faces a fierce pushback from many EU capitals, which fear the resulting lower prices would hamper the bloc’s decarbonisation pathway while drastically lowering their ETS-derived revenues.
Read MoreEU Parliament vote reignites debate on role of carbon removals
The European Commission should assess and spell out how to enhance carbon dioxide removals (CDR) in a new legislative proposal by no later than 2025, the European Parliament’s environment committee (ENVI) said in a vote on the bloc’s carbon market earlier this week.
Read MoreKey lawmakers seek to unlock EU Social Climate Fund in 2024-32, but post-2027 funding looks uncertain
Two European Parliament committees have backed plans to swiftly launch an EU-wide fund tasked with supporting poorer people cope with rising heating and road mobility costs during the clean transition, voting results showed this week.
Read MoreEU Parliament committee completes votes on first batch of climate legislation
The European Parliament’s Environment Committee (ENVI) has voted on the amendments of a first batch of the Fit for 55 climate policy package, on aviation ETS, the Effort Sharing Regulation (ESR) and land use LULUCF Regulation covering non-ETS sectors, as well as a draft opinion on the Renewable Energy Directive (RED).
Read MoreMEP push for higher ETS ambition risks failure amid energy cost concerns, says lead lawmaker Liese
A deal by senior MEPs to raise ambition in the EU ETS is likely to be shot down by the full European Parliament, the assembly’s lead lawmaker on the issue said on Wednesday, citing the intense pressure on politicians to curb sky-high energy costs.
Read MoreEU lawmakers strike early deal on ETS reform for more ambition, speculation curbs
Senior MEPs have reached a comprehensive early deal on EU ETS reforms just days ahead of a crunch vote, with compromises emerging on higher overall ambition and on curbing the role of speculators, according to meeting notes seen by Carbon Pulse.
Read MoreMEP battle continues on free ETS allocation as early deal eludes negotiators
Senior MEPs have failed to strike an early compromise over how quickly to replace EU ETS free allocation with a carbon border adjustment mechanism (CBAM), with an interim vote likely to favour a more rapid transition even as the European Parliament remains sharply divided.
Read MoreEU lawmaker opposition to ETS2 eases as MEPs eye earlier start for businesses
Senior MEPs negotiating EU carbon market reform may be nearing a deal on accepting a proposed second ETS for buildings and road transport, according to draft compromise amendments seen by Carbon Pulse on Friday.
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