Brussels says EU carbon allowances will be issued “far into the 2040s”
A senior European Commission official said allowances under the EU Emissions Trading System (ETS) will continue to be auctioned well into the 2040s, with flexibilities in the bloc’s carbon market allowing industries to emit for longer.
Read MoreGreens call for political deal on EU ETS revision before 2027 French elections
A Green European Parliament lawmaker who will help steer the revision of the EU Emissions Trading System (ETS) says talks could conclude by the first quarter of 2027, provided the European Commission anticipates key issues and EU capitals and the Parliament avoid major changes to the draft.
Read MoreBrussels sticks to ‘fallback’ EU ETS benchmark cuts, but promises new sub-categories to help industry
The European Commission is proposing to maintain the highly-contested steep cuts in general ‘fallback’ categories for the benchmark values used to determine the number of free EU ETS allowances handed to industries, and confirmed that it will provide an extra €4 billion worth, mainly to the chemical sector.Â
Read MoreBRIEFING: China calls EU carbon border fee “not helpful for developing countries”
China’s ecology and environment vice minister, Li Gao, has called the EU’s Carbon Border Adjustment Mechanism (CBAM) “not correct” and “not helpful for developing countries”, saying it seeks to impose a global carbon price on other nations.
Read MoreEU, China, Brazil, hold first meeting of compliance carbon markets coalition
The first meeting of the Open Coalition on Compliance Carbon Markets took place on Thursday, with the EU and Brazil’s top climate officials telling Carbon Pulse the initiative aims to reduce fragmentation among emissions trading systems worldwide and boost the uptake of carbon pricing.
Read MoreBrussels to introduce CBAM rules for overseas carbon prices this month -official
The European Commission will introduce new rules this month detailing how it will recognise carbon prices paid in exporting countries, according to a senior official, making it possible for European importers to calculate deductions from their carbon border fees. Â
Read MoreEU will not use international credits to comply with its ETS -top official
The EU’s top climate official ruled out the use of international credits as a compliance tool in the bloc’s Emissions Trading System (ETS), during a panel on Wednesday.
Read MoreMajority in European Parliament supports deleting CBAM temporary suspension mechanism
The largest political groups in the European Parliament, including the centre-right European People’s Party (EPP), back removing the Carbon Border Adjustment Mechanism’s (CBAM) temporary suspension clause from the European Commission’s December proposal to extend the scheme.
Read MoreGroups clash over use of international carbon credits in EU policy framework
Think tanks, NGOs, and scientific bodies have warned the EU over the planned use of international carbon credits in its climate policy framework, while a large number of companies endorsed their inclusion, also in the bloc’s carbon market, in response to a public consultation.
Read MoreCross-party lawmakers urge EU not to include international credits in its carbon market
A group of cross-party European Parliament lawmakers have urged the European Commission not to include international carbon credits in the EU’s Emissions Trading System (ETS).
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