European lawmakers caution against amending Commission’s EU ETS2 MSR proposal
Members of the European Parliament cautioned against adding further flexibilities to the Commission’s proposed Market Stability Reserve (MSR) amendment for the Emissions Trading System for heating and transport (ETS2), saying it could eliminate the price signal and weaken the climate policy.
Read MoreEU proposes using carbon market revenues to support shipping decarbonisation
The European Commission will use proceeds from the sale of 20 million EU Emissions Trading System (ETS) allowances under the Innovation Fund to finance maritime decarbonisation through 2030 and may consider creating a dedicated ETS mechanism for the sector, it announced Wednesday as part of a new maritime and ports strategy.
Read MoreItaly, France criticise proposed EU decarbonisation fund, call for stable ETS prices
Italy and France criticised the European Commission’s proposed temporary fund to support exporters at risk of carbon leakage, calling it insufficient, and urged a revision of the EU carbon market to improve price stability and predictability, according to a joint statement on Tuesday.
Read MoreEU climate chief rules out suspending fertilisers from CBAM
European Climate Commissioner Wopke Hoekstra has ruled out suspending the EU’s Carbon Border Adjustment Mechanism (CBAM) for fertilisers, saying the bloc will instead address potential price increases through a dedicated sectoral action plan.
Read MoreINTERVIEW: EU ETS must adapt to changing world order, electricity lobby says
The EU’s Emissions Trading System (ETS) must be adjusted so Europe’s industry can thrive in an era of big power politics while “staying the course” on climate action, according to the head of the bloc’s electricity industry association.
Read MoreCarbon capture only a niche fix for EU chemicals sector, think tank says
Carbon capture may only be viable for specific processes in Europe’s chemical sector and is likely to remain a niche transition tool, according to a new analysis by climate think tank Sandbag.
Read MoreBrussels greenlights Slovenian CO2 cost compensation scheme
The European Commission has approved a €78 million Slovenian state aid scheme to partially compensate certain companies for high electricity prices driven by carbon costs, it said on Friday.
Read MoreImmediate changes needed to EU ETS, CBAM to save chemicals sector, member states warn
Poland, supported by eight other EU countries, called for urgent political action to help the bloc’s ailing chemicals sector, mainly by revising the phaseout of free carbon allowances to industry under the EU Emissions Trading System (ETS) and by amending technical values that determine permit handouts, during a ministerial meeting in Brussels on Thursday.
Read MoreBrussels confirms plan to turn EU ETS into “investment tool” for decarbonisation
The upcoming reform of the EU Emissions Trading System (ETS) will aim to turn the bloc’s carbon market into “an investment tool” to modernise European industry, so it is no longer seen only as “a taxation tool”, the European Commission said on Thursday.
Read MoreUPDATE – Italy to request suspension of EU ETS pending reform
Italy plans to request a suspension of the EU Emissions Trading System (ETS), pending a thorough revision, a senior minister told journalists at the start of the EU Competitiveness Council on Thursday, sending benchmark carbon prices tumbling below €70 per tonne.
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