Canada flip flops on taxing overdue small business carbon tax rebates
The Canadian government has reversed its prior policy position and plans to tax the carbon rebate owed to small businesses over the last five years, a non-profit said Monday.
Read MoreINTERVIEW: Central America’s phased-in carbon markets chart unique course in the region
Central American countries’ attempts to sensitise the private sector to carbon pricing while building up public sector capacity via voluntary programmes have led to a unique, subregional model of carbon markets within Latin America, a Panamanian expert told Carbon Pulse.
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 MoreLATAM Roundup: Compliance measures move forward across the region, potential setback in Colombia
Compliance markets will be key to bolstering carbon pricing in the region, Carbon Pulse heard last week, but Colombia’s way forward on long-delayed ETS plans is unclear following the sudden resignation of Environment Minister Susana Muhamad.
Read MoreRoadshow for Chile’s first-ever auction of tax-eligible offsets slated for next week
A Latin American carbon markets platform will host a show-and-tell for the first auction of carbon credits eligible toward payment of Chile’s CO2 tax next week, it announced Thursday.
Read MoreEU plans to exempt more than 80% of companies from CBAM compliance
The European Commission wants to raise the threshold of the EU’s new carbon border tax, a source from the bloc’s executive confirmed, freeing more than 80% of the eligible companies from reporting requirements.
Read MoreSouth African exchange sees first trade of voluntary carbon credits
The Johannesburg Stock Exchange (JSE) has seen the first trades of carbon credits, which are eligible to be used as offsets against the country’s carbon tax, the exchange announced Thursday.
Read MoreArcelorMittal expects steel demand rebound in 2025
ArcelorMittal, the world’s second-largest steelmaker, expects significant growth in steel demand this year, it said in annual results Thursday, suggesting a related increase in demand for EU emission allowances to cover the carbon costs.
Read MoreRaise carbon taxes, reform fossil fuel subsidies to meet LATAM and Caribbean climate targets -UN report
Latin American and Caribbean countries would see increased revenues from hiking carbon taxes and reforming fossil fuel subsidies – equipping the region with the finance needed to deliver on Paris Agreement commitments, according to a report by a UN commission.
Read MoreLATAM Roundup: Ecuador, Peru boost access to international markets
Both Ecuador and Peru announced measures last week that could facilitate access to international carbon markets – specifically, Article 6 and the CORSIA UN international aviation offsetting scheme.
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