Brussels approves billions for offshore wind in Denmark, renewable hydrogen scheme in France
Denmark will disburse €5 billion to support offshore wind energy and France can move ahead with its scheme to support the production of renewable and low-carbon hydrogen, Brussels ruled under the bloc’s state aid framework.Â
Read MoreUPDATE – EU to propose revision of ETS Market Stability Reserve “before Easter”, retain volume-focused triggers, officials say
A planned revision of the EU ETS Market Stability Reserve (MSR) will be presented “before Easter”, officials in Brussels said on Monday, also confirming that the European Commission was not planning to put forward a shift from volume- to price-linked triggers as part of the plans.
Read MoreANALYSIS: EU carbon prices surge as Brussels swerves “worst case” scenarios for ETS reform, but market in the dark on details
Benchmark EU carbon futures jumped nearly 10% on Friday morning after the European Commission confirmed it would imminently propose tweaks to the market to help ease prices in the near term, as well as planned medium-term reform measures including a €30 billion ‘investment booster’ for decarbonisation, as participants said they now consider fundamental changes to the Emissions Trading System, or a possible suspension of the scheme, to be off the table.
Read MoreEuropean Commission moves to “modernise” EU ETS with MSR upgrade, €30 bln investment push
The European Commission will propose reforms to the EU carbon market, including tweaks to the Market Stability Reserve, a €30 billion industrial decarbonisation fund, and plans to extend free allocations from 2035, as the bloc weighs short-term interventions to cushion the impact of surging energy prices triggered by disruption in global oil and gas markets linked to the US-Israel war against Iran.
Read MoreEU aims for swifter and more “realistic” approach to UN climate talks
The European Union plans to begin preparing earlier for the year-end United Nations climate conferences and adopt a more “realistic” multi-year strategy after what many described as a disappointing performance at last year’s talks.
Read MoreDraft EU summit statement calls for ETS reform proposal by July “at the latest”
War in the Middle East is dominating talks on industrial competitiveness at an EU summit opening Thursday, with a draft leaders’ statement calling for planned reform of the bloc’s Emissions Trading System (ETS) to be presented “by July 2026 at the latest”, as well as urging near-term energy price containment measures.
Read MoreUPDATE – Group of 10 member states demand EU ETS review by May
Ten EU countries have called on the European Commission to bring forward its planned review of the EU ETS to the end of May “at the latest”, urging a package that also lowers carbon costs for industry in the near term.
Read MoreFive EU nations ask for more flexibility for CO2-neutral fuelled cars beyond 2035
Italy, backed by four other EU nations, has called for extra flexibilities beyond 2035 for cars running on carbon-neutral fuels, as part of talks on revising the EU’s CO2 standards for cars and vans.
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.
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