European Commission president confirms “at least 55%” 2030 climate target
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.
Read MoreNetherlands confirms carbon tax on ETS-covered industry
The Netherlands will apply from next year a carbon tax on EU ETS-covered heavy industries, the government announced Tuesday, though high EUA prices and wide initial exemptions mean the levy may have little impact at first.
Read MoreEU Parliament study assesses the assembly’s own GHG reduction pathways
The European Parliament should put in place measures to cut emissions from MEP travel and energy use as part of an institution-wide 2030 carbon footprint reduction target, according to a study published by the assembly’s secretariat on Tuesday.
Read MoreEU Parliament supports expanding ETS to international shipping from 2022
The European Parliament on Tuesday adopted an amendment that could fast-track the inclusion of emissions from ships using EU ports to the bloc’s ETS as of Jan. 2022.
Read MoreEU ETS free allocation should be “better targeted” to reflect climate goals, auditors say
The current system of free allocation of EU carbon allowances should be “better targeted” in light of the bloc’s net zero 2050 emissions goal and the enhanced ambition for 2030, the EU’s auditing body said.
Read MoreMARCU MY WORDS: The vision for the EU ETS in the 2030 Framework – will it be up to the challenge?
With so many issues being brought to the table and put on the menu for possible EU ETS reforms and to embody the European Green Deal, there is a real risk of not being able to see the forest for the trees, argues Andrei Marcu. Any revision of the EU ETS needs to be put in the context of the role of the market in the 2030 timeframe and beyond, and the objectives of the review. If not, we may get wrong not only the review of the EU ETS but also, due to a lack of debate, its role going forward.
Read MoreBrussels to propose “at least 55%” climate target for 2030, one-off supply cut
The European Commission will propose raising the EU’s 2030 emissions reduction target to “at least 55%”, while exploring a one-off supply cut as a way of aligning the ETS with the new goal, according to a leaked draft due to be presented over the coming days.
Read MoreTo align with tougher EU climate goals, Germany to raise domestic carbon prices a second time
Germany will need to raise the costs under its domestic carbon pricing scheme for transportation and heating a second time in order to meet the more ambitious climate goals to be targeted by the EU, Economy and Energy Minister Peter Altmaier said Friday.
Read MoreMontana governor downplays council’s carbon pricing recommendations
A Montana climate council called on the state to explore the feasibility of either a federal or regional CO2 pricing approach as part of a swath of proposed emissions reduction methods on Wednesday, but subsequent comments from Governor Steve Bullock (D) and the state’s probable Republican-led legislature going forward suggest the recommendation may never come to pass.
Read MoreGlobal offset demand to outstrip supply by 2025 -Fitch
Global demand for carbon offsets is likely to surpass supply by around 2025 as governments tighten climate regulations and more major emitters set voluntary net zero targets, according to a report by ratings agency Fitch.
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