Tariff threats, CBAM add pressure on Southeast Asia to accelerate carbon market plans
Prospective US tariffs and Europe’s Carbon Border Adjustment Mechanism (CBAM) are increasing pressure on Southeast Asian nations to fast-track carbon pricing policies, speakers said during a webinar Thursday.
Read MoreEU’s next Paris commitment coming “in good time”, Commission official promises
The EU will submit its Nationally Determined Contribution (NDC) “in good time”, anchored by a new target for emissions reductions, a European Commission official promised lawmakers in Brussels on Wednesday, amid calls from some for a more relaxed approach.
Read MoreCarbon removal credits unlikely to be considered for EU CBAM compliance until mid-2030s, expert says
While foreign countries may accept international credits to achieve their climate targets under the Paris Agreement, the EU is unlikely to consider allowing carbon removal (CDR) units for compliance under its Carbon Border Adjustment Mechanism (CBAM) until the mid-2030s, according to an expert consultant.
Read MoreUK CBAM to penalise new nuclear and wind, but let solar off the hook, warns utility giant
EDF, which is seeking fresh investors for the Hinkley Point C nuclear power plant in England, has warned the UK government that its planned Carbon Border Adjustment Mechanism (CBAM) will push up the cost of building new nuclear plants and wind farms.
Read More“Tariffs in disguise”: EU CBAM sparking plethora of new green trade barriers
The EU’s Carbon Border Adjustment Mechanism (CBAM) is giving rise to a plethora of copycats around the world that are really meant as tariffs, according to an expert consultant who warned about “a nightmare” when it comes to implementation.
Read MoreCarbon price critical to making low-carbon steel competitive, ArcelorMittal says
Supportive policy and a global price on carbon will be critical to making low-carbon steel production competitive, according to steelmaker ArcelorMittal, which reported on Thursday that it had almost halved its emissions footprint since 2018.
Read MoreFEATURE: Rise of border carbon fees will create compliance costs, trade shuffles, and – maybe – some emissions cuts
The once-distant idea of a global market divided up by border carbon fees is coming increasingly into focus, as countries ready themselves for the full force of the EU’s Carbon Border Adjustment Mechanism (CBAM) next year.
Read MoreTurkish government delays Climate Law with national ETS
The Turkish government withdrew the country’s draft Climate Law from discussions in parliament on Tuesday, putting on hold a policy that would introduce a national emissions trading system, amid opposition, according to local media.
Read MoreBrazil to propose international carbon market integration at COP30 -official
Brazil will present a proposal to integrate carbon markets worldwide when it hosts the COP30 UN climate conference in November, a senior government official said Friday.
Read MoreCBAM a key driver of decarbonisation in the Western Balkans, research says
The EU’s Carbon Border Adjustment Mechanism (CBAM) is expected to play a pivotal role in setting the pace of the energy transition in the Western Balkans region, an energy research company said in a first market forecasting analysis of the region, published on Tuesday.
Read More