LEAK: Brussels to sharpen EU ETS benchmarks while granting €4 bln free allowance boost
A European Commission presentation containing draft benchmark values that determine how many free allowances industries receive under the EU Emissions Trading System (ETS) retains steep reductions for the ‘fallback’ categories, while outlining a new approach expected to deliver around €4 billion more in free allocations.
Read MoreBrussels looks to merge emission rules for land-based removals, non-ETS sectors
Brussels is looking into merging the land use, land use change, and forestry (LULUCF) Regulation and the Effort Sharing Regulation (ESR) into a single instrument, it said as part of its regulatory “deep cleaning” action plan.
Read MoreEuropean Parliament wards off attempts by right-wing groups to cancel EU ETS2, approves MSR position
The European Parliament voted to keep allowances in the Emissions Trading System for heating and transport (ETS2)’s Market Stability Reserve (MSR2) fully valid until 2033, with partial validity until 2035, while they rejected right-wing political parties’ attempts to delete and postpone the bloc’s second carbon market.
Read MoreCBAM appears to be distorting power flows between Western Balkans and EU, says Energy Community
The EU’s carbon border fee appears to be distorting electricity flows between the EU and the Western Balkans countries, which risks reducing the amount of clean power flowing from these countries into the bloc, according to a report by an energy community body.Â
Read MoreBrussels sets sectoral emission limits for non-EU ETS sectors for 2026-30
The European Commission has set out national emission limits for sectors outside the EU’s carbon market for the next four years, in two pieces of implementing legislation published this week.
Read MoreEuropean Parliament backs single method for counting all transport emissions
The European Parliament has endorsed new rules introducing a single methodology for calculating greenhouse gas emissions from all types of passenger and freight transport, rubber-stamping a deal with member states.
Read MoreLetting Article 6 credits into EU ETS, CBAM risks sending carbon revenues overseas, coalition warns
A coalition of clean technology early movers is calling on the EU to keep international carbon credits out of the Emissions Trading System (ETS) and Carbon Border Adjustment Mechanism (CBAM), and to stick to the current trajectory for the phaseout of free allowances for CBAM-covered sectors.
Read MoreEU lawmaker pushes to delete suspension mechanism, Article 6 recognition from CBAM
The European Parliament’s lead negotiator on the proposal to extend the EU Carbon Border Adjustment Mechanism (CBAM) proposes to delete both the temporary suspension mechanism and the reference to recognition of international carbon credits, in a draft position released on Tuesday.
Read MoreEU finance watchdog finds multiple flaws in temporary decarbonisation fund
The European Court of Auditors has warned of several weaknesses in the design of the proposed temporary decarbonisation fund set up to compensate exporters of goods covered by the EU’s Carbon Border Adjustment Mechanism (CBAM).
Read MoreEU Commission chief says ETS free permit allocation benchmarks will come “shortly”
The benchmarks determining how many free allowances industries receive under the EU’s Emissions Trading System (ETS) are coming “shortly”, European Commission President Ursula von der Leyen reiterated in a speech on Monday, following a meeting with other commissioners on the impact of the Middle East war.
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