EU court upholds ‘green’ label for forest biomass in taxonomy, disappointing NGOs
The EU Court of Justice has upheld rules allowing forest bioenergy projects to qualify as “sustainable” under the bloc’s Sustainable Finance Taxonomy, dealing a blow to NGOs that sought to overturn the regulation.
Read MoreFrance clarifies stance on EU ETS, calls for softer yearly emission cap to 2040
France has moved to clarify its position on reforming the EU Emissions Trading System (ETS), arguing that the bloc’s annual emissions cap should be softened “so it does not reach zero in 2039”, but leaves around 200-300 million allowances in the system by then.
Read MoreParliament rejects bid to block EU permanent carbon removal methodologies
The European Parliament’s environment committee on Tuesday voted down a resolution that sought to reject the European Commission’s proposal on permanent carbon removal activities under the EU’s Carbon Removal and Carbon Farming (CRCF) certification framework.
Read MoreUPDATE – Poland floats slower annual EU ETS emission cuts, targets zero allowances by 2050
Warsaw has proposed slowing the pace of annual emissions cuts in the EU’s Emissions Trading System (ETS) by reducing the Linear Reduction Factor (LRF), so that the volume of allowances in the bloc’s carbon market would fall to zero by 2050, instead of around 2040.
Read MoreBrussels to present MSR reform in coming months, EU ETS review proposal at end of Q2
EU climate chief Wopke Hoekstra has indicated that the European Commission will present its planned reform of the Market Stability Reserve (MSR) in the coming months and before a wider scheduled review of the bloc’s Emissions Trading System (ETS), which could now come as early as the end of the second quarter.
Read MoreComplex hydrogen rules threaten EU’s decarbonisation goals, warns industry coalition
A coalition representing the European hydrogen value chain has warned that the EU will miss its climate and industrial decarbonisation goals unless Brussels rapidly simplifies its rules, and backs both renewable and low‑carbon hydrogen.
Read MoreUPDATE – EU set to boost “firepower” of Market Stability Reserve, accelerate ETS revision work
The European Commission will propose increasing the “firepower” of the Market Stability Reserve (MSR) in a bid to ease EU ETS costs in the near term, and will factor in industry concerns as it finalises changes to free allowance allocation rules, President Ursula von der Leyen has told EU leaders in a letter ahead of this week’s summit.
Read MoreUPDATE – EU energy ministers stress need for short-term ETS interventions, not suspension
Energy ministers from the EU27 underlined the need for short-term measures to address high and volatile prices in the bloc’s Emissions System (ETS) but stopped short of calling for a suspension of the scheme, they told journalists before a meeting of the EU’s Energy Council on Monday.
Read MoreFEATURE: Lawmaker floats central EU buyer for international carbon credits, reviving debate on ETS integration
German MEP Peter Liese is urging the EU to allow international carbon credits in its Emissions Trading System (ETS), reviving debate over the potential integration of Paris Agreement Article 6 units into the bloc’s carbon market.
Read MoreBRIEFING: Trains and trucks seen as “early movers” in Europe’s emerging CO2 transport market
Pipelines provide the cheapest long-term option for transporting CO2, but trains, trucks, and barges could help small and remote emitters move captured carbon to storage sites faster and at lower cost, experts say.
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