Germany launches tender to help Kosovo analyse impact of CBAM, regional ETS
Germany has launched a search for contractors to assist the government of Kosovo in preparing for the EU’s carbon border adjustment mechanism (CBAM) and to establish a regional ETS in the Balkans.
Read MoreScientists warn against reducing forests to mere carbon sinks and ignoring their social value
The rise of policies aimed at harnessing forests to absorb carbon is driving the commodification of forests, hindering the slow-down of deforestation, and ignoring their social benefits, scientists warned in a report published on Monday.
Read MoreUK government loses second ruling over inadequate climate plan
The UK government has lost a second case brought by environmental campaigners for not doing enough to meet its targets for cutting greenhouse gas emissions.
Read MoreEU ETS2 prices could almost quadruple with weak energy efficiency policies in place -report
The 2030 prices of the EU’s new heating and transport carbon market (ETS2) could be around four times higher if weak energy efficiency policies are implemented across the bloc, compared to a more ambitious scenario, new analysis has found.
Read MorePayment firm hikes carbon price and pours funding into carbon removal projects
An online payment service company has doubled its internal carbon tax to $200, enabling the company to donate $2 million that will go to 13 carbon removal startups, the firm announced on Wednesday.
Read MoreEU’s over-subscribed hydrogen bank auction awards €720 mln to seven projects
The EU ETS-funded European Hydrogen bank has awarded nearly €720 million to seven renewable hydrogen projects, following its first competitive bidding process, the European Commission announced on Tuesday.
Read MoreGlobal business association highlights “severe” challenges with EU CBAM
The world’s largest business association has written to the European Commission’s director general for taxation and customs union to call attention to the “severe” challenges companies have faced in complying with the first reporting period of the EU’s Carbon Border Adjustment Mechanism (CBAM).
Read MoreEU steel association revises down 2024 outlook on sluggish demand
EU steel association Eurofer has lowered its 2024 consumption forecast for the 27-nation bloc, citing worsening geopolitical tensions, growing economic uncertainty, high energy prices, inflation, and interest rates as factors that are adversely affecting demand.
Read MoreCBAM must tackle recycled aluminium emissions loophole, industry and NGOs say
The EU’s carbon border adjustment mechanism (CBAM) will drive up prices of aluminium, as it fails to address a loophole for process scrap that could lead to vast amounts of carbon emissions being imported into the bloc, a report by a consulting firm and a panel of industry and NGO experts warned this week.
Read MoreANALYSIS: CBAM hedging unlikely to have impact on EU ETS market, experts say
Some companies, including international ones, are already trying to hedge their CBAM certificate exposure by buying EUAs on the forward market, but this additional demand will not impact EUA prices, according to market observers.
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