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Provinces cite cap-and-trade, COVID-19 response as arguments against Canadian CO2 pricing regime

Published 00:45 on September 24, 2020  /  Last updated at 00:45 on September 24, 2020  /  Americas, Canada, Carbon Taxes  /  No Comments

Supreme Court oral arguments against the Canadian government’s ‘backstop’ carbon pricing system entered the second and final day on Wednesday, as Quebec contended the federal system threatens its ability to implement its WCI-linked ETS, while New Brunswick offered Ottawa’s response to the coronavirus pandemic as a better model of cooperative federalism.

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EU carbon prices to double on raised 2030 climate target, over €100 possible from other reforms -analysts

Published 23:19 on September 22, 2020  /  Last updated at 17:43 on September 23, 2020  /  Carbon Taxes, CBAM, EMEA, EU ETS  /  No Comments

EU carbon allowances will average €57 over the next decade, or double current prices, analysts forecast, modelling a scenario where the bloc adopts a 55% emissions reduction target for 2030 and does not implement any other supply-tightening changes.

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Canadian provinces, Ottawa square off on federal CO2 pricing system in Supreme Court

Published 23:17 on September 22, 2020  /  Last updated at 00:00 on September 24, 2020  /  Americas, Canada, Carbon Taxes  /  No Comments

Three conservative-led Canadian provinces argued before the country’s highest court on Tuesday that the federal government lacks Constitutional authority to impose its ‘backstop’ CO2 levy and output-based pricing system (OBPS) on recalcitrant jurisdictions, while Ottawa and British Columbia contended that climate change is a matter of national concern that necessitates minimum national standards of GHG pricing.

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UK needs wider, higher, and simpler carbon pricing, report says

Published 20:53 on September 21, 2020  /  Last updated at 23:02 on September 21, 2020  /  Carbon Taxes, CBAM, EMEA, EU ETS  /  No Comments

Post-Brexit Britain needs to expand its carbon pricing to more sectors at a rate rising to at least £75/tonne ($95, €80) by 2030 to put it on a path to reach its 2050 net zero emissions target, according to a report published by an expert group Monday.

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Canada accepts weaker Ontario and New Brunswick large emitter programmes to replace federal OBPS

Published 17:42 on September 21, 2020  /  Last updated at 23:26 on September 21, 2020  /  Americas, Canada, Carbon Taxes  /  No Comments

The Canadian government approved Ontario and New Brunswick’s output-based pricing systems (OBPS) under the federal carbon pricing framework on Monday, despite Ottawa’s own admission that both programmes in the conservative-led jurisdictions will achieve fewer GHG reductions than the national ‘backstop’ mechanism.

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PJM states should opt for carbon pricing over state-led RPS programmes -market monitor

Published 23:03 on September 18, 2020  /  Last updated at 23:03 on September 18, 2020  /  Americas, Carbon Taxes, US  /  No Comments

Members of the US’ PJM power grid should choose CO2 pricing mechanisms like RGGI to lower emissions and generate revenue, rather than relying on inconsistent and expensive Renewable Portfolio Standards (RPS) and subsidies to do the job, the regional transmission organisation’s market monitor said Friday.

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EU nations phasing out coal power “sooner than expected” -Commission

Published 18:10 on September 18, 2020  /  Last updated at 23:58 on September 18, 2020  /  Carbon Taxes, EMEA, EU ETS  /  No Comments

Coal power phaseout plans by EU member states have accelerated in the past few months to suggest that the fuel’s share of the bloc’s electricity mix may decline by more than two-thirds over the 15 years to 2030, according to a European Commission assessment of the 27 nations’ climate plans.

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Carbon neutral LNG faces uphill battle in China, gas distributor says

Published 10:38 on September 18, 2020  /  Last updated at 00:19 on September 19, 2020  /  Asia Pacific, Carbon Taxes, CBAM, China, China's Offset Market, International, Voluntary Market  /  No Comments

The recent failure to fetch any premium at China’s first-ever carbon neutral LNG auction shows market appetite is still low, but upstream suppliers can help by improving their information disclosure, according to a report released by a state-owned gas distributor.

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European Commission proposes LRF adjustment, considers rebasing EU ETS cap under 2030 climate plan

Published 11:43 on September 17, 2020  /  Last updated at 23:44 on September 17, 2020  /  Carbon Taxes, CBAM, EMEA, EU ETS  /  No Comments

The European Commission is considering a one-off emissions cap reduction and a tighter annual linear reduction factor in the EU ETS from 2026 as part of plans to raise the bloc’s 2030 emissions reduction target to “at least 55%”, it said in documents released on Thursday.

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European Commission president confirms “at least 55%” 2030 climate target

Published 09:10 on September 16, 2020  /  Last updated at 16:32 on September 17, 2020  /  Carbon Taxes, CBAM, EMEA, EU ETS  /  No Comments

The European Commission is set to propose an upgraded 2030 target of at least 55% below 1990 levels, the EU executive’s president told EU lawmakers on Wednesday.

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