EU 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 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 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.
Read MoreCarney plans to replace Canadian consumer carbon tax with ‘green’ incentives, industry to pick up tab
Federal Liberal leadership hopeful Mark Carney, former governor of the Bank of Canada, is pledging to scrap the country’s revenue-neutral consumer carbon tax in favour of ‘green’ incentives and tougher targets for heavy industry.
Read MoreGermany greenlights overdue EU ETS reform law
Europe’s largest economy has finally moved to transpose the latest version of the EU Emissions Trading System (ETS) regulation into national law.
Read MoreWTO-backed technology transfer can help Caribbean meet EU CBAM challenge -think tank
The World Trade Organization (WTO) can support members of the Caribbean Community (CARICOM) intergovernmental union to avert the worst impacts of the EU Carbon Border Adjustment Mechanism (CBAM), according to a regional think tank, though CARICOM should also pursue greater intra-bloc alignment between climate and international trade policy.
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 MoreInvestigation reveals plastic producers lobbying for free EU ETS allowances
The European chemical industry, led by major plastic producers, has been pushing back on the EU Emissions Trading System (ETS) and the Carbon Border Adjustment Mechanism (CBAM), claiming that carbon policies threaten their survival in Europe and will drive investment and jobs overseas, according to leaked documents.
Read MoreEU centre-right divide deepens amid “violent” talks on ETS2 and CBAM
The ruling centre-right European People’s Party (EPP) is facing intense internal divisions over the future of the EU’s Emissions Trading System for road and heating fuels (ETS2) and the Carbon Border Adjustment Mechanism (CBAM), and has so far failed to reach consensus on what the bloc’s 2040 emissions reduction target should be.
Read MoreEcocem set to break ground on its first low-carbon cement technology plant
Low-carbon cement producer Ecocem intends to build the first production facility dedicated to its new cement technology in the French port city of Dunkirk, the company announced on Tuesday.
Read More