Northern Ireland flagged as a potential EU CBAM loophole
Northern Ireland could serve as a loophole for companies seeking to avoid paying the EU’s Carbon Border Adjustment Mechanism (CBAM) fees, due to the absence of controls on goods crossing from there into the bloc via Ireland, experts have warned.
Read MoreDelays mean EU ETS free allocation benchmarks now to be published “shortly after Easter”
The European Commission will now publish long-awaited benchmarks that determine how many free permit allocations industries receive under the bloc’s Emissions Trading System (ETS) shortly after Easter, a senior EU official said, after a delay to their release, which had been expected on Wednesday.
Read MoreEU Parliament’s environment committee proposes extending ETS2 MSR to 2035
Lawmakers in the European Parliament environment committee want allowances in the Emissions Trading System for heating and transport (ETS2)’s Market Stability Reserve (MSR) to remain fully valid until 2033, and partially valid until 2035, as part of a draft agreement on amending the supply-controlling mechanism.
Read MoreItaly moves to delay coal power phaseout by 13 years
The Italian government has decided to postpone the closure of the country’s remaining coal power plants to 2038, 13 years after their scheduled phaseout, citing the energy crisis caused by the war in the Middle East.Â
Read MoreOver a dozen EU countries renew call for CBAM fertiliser suspension
More than a dozen EU countries urged the European Commission to exempt fertilisers from the bloc’s Carbon Border Adjustment Mechanism (CBAM) during Monday’s agriculture ministerial meeting in Brussels.
Read MoreBillions for Italian renewable hydrogen scheme approved by EU executive
A €6 billion Italian scheme for renewable hydrogen production for the transport and industrial sectors was approved by the European Commission under the bloc’s state aid rules on Monday.Â
Read MoreFrance to request EU CBAM fertiliser exemption amid Middle East war
France will ask the EU to temporarily suspend its carbon border tax on fertilisers, citing rising prices linked to the ongoing Middle East conflict, the country’s agriculture minister Annie Genevard said on Friday.
Read MoreEU states back counting Article 6 credits towards CBAM payments
EU member states signaled international carbon credits should be recognised as a CO2 price paid in foreign countries when calculating importers’ Carbon Border Adjustment Mechanism (CBAM) liabilities, according to a draft joint position that also proposes a two-year limit for any temporary suspension of goods.
Read MoreFEATURE: Italian govt confident energy decree will be approved, but experts disagree
Italian Prime Minister Giorgia Meloni said last week she believes a national energy decree reimbursing gas power plants for their carbon costs will be approved by the European Commission, but experts say it is unlikely to get the green light under EU state aid rules.
Read MoreANALYSIS: Attention on EU ETS reform turns to Market Stability Reserve as experts anticipate moderate changes
The European Commission’s upcoming plans to ease prices in the EU Emissions Trading System (ETS) are unlikely to fundamentally change how the bloc’s carbon market works and will likely include scrapping the automatic cancellation rule in its supply-balancing Market Stability Reserve (MSR), experts told Carbon Pulse.
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