Brussels urged to submit 2035 climate target to the UN “as soon as possible”
The EU has an obligation to submit a 2035 climate target to the UN “well before” the COP30 climate summit in November, said a senior European Parliament member from the ruling European People’s Party (EPP) – putting pressure on Brussels to deliver “as soon as possible”.
Read MoreFEATURE: UK-EU ETS linking back on the table, raising cautious optimism ahead of talks
Recent news that the EU and UK plan to discuss the potential for linking their emissions trading schemes at a summit this spring sparked a flurry of buying that has driven benchmark UK Allowances to multi-month highs – but there’s a long way to go before any tangible agreement on a link-up can be made, analysts warn.
Read MoreUK investment manager puts €50 mln into Spanish farmland regeneration
A British climate impact investment manager has launched a €50 million regenerative agriculture platform in Spain, aimed at converting existing farming practices from intensive cereal production to high-value pistachio and cherry tree crops, alongside livestock
Read MoreUK proceeds with technical ETS changes aimed at transparency, simplification
The UK ETS Authority intends to move forward with proposed technical and operational changes to the market, aimed at creating more transparency, maintaining parallels with the EU ETS, and simplifying compliance, it announced on Thursday evening.
Read MoreUPDATE – UK could use ITMOs as last resort to hit ambitious climate target in 2035
The UK could use international carbon credits to meet its climate targets under the Paris Agreement, although only as a last resort if domestic mitigation policies struggle, the government announced Thursday.
Read MoreEU CBAM could cost Northern Ireland up to £200 mln per year -report
The EU’s Carbon Border Adjustment Mechanism (CBAM) may be costly and disruptive for Northern Ireland, requiring payments of up to £200 million a year — unless the bloc and UK decide to link their emissions trading schemes, a new report warned on Wednesday.
Read MoreANALYSIS: US withdrawal from Paris Agreement may create Article 6, CORSIA headaches
The impending US withdrawal from the Paris Agreement could influence the supply and demand dynamics under the CORSIA international aviation offsetting scheme, progress towards the launch of the new Paris Agreement Crediting Mechanism (PACM), as well as the 2028 Article 6 review — although widespread uncertainty still clouds the overall outlook under the new Trump administration.
Read MoreUK clears Heathrow expansion for take-off, promises plans will stick to carbon budgets
The UK government threw its weight behind the controversial expansion of Heathrow Airport on Wednesday, going against recommendations from its independent advisor on how to stick to the country’s legally binding carbon budgets, with any emissions impact to fall within the scope of the country’s carbon market and operators’ CORSIA obligations.
Read MoreUKAs surge on reports of British govt push for ETS linkage with EU
UK carbon prices rallied above £40 on Tuesday on reports describing a push from Prime Minister Keir Starmer’s government to link the British emissions trading market to that of the EU – a plan strongly supported by the Scottish government.
Read MoreAsian shipping giant cuts its carbon removal goal, blaming market “immaturity”
An Asian shipping giant has halved its goal for retiring carbon removal (CDR) credits to 100,000 tonnes per year by 2030, due to the “immaturity” of the technology and market, it announced on Monday.
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