EXCLUSIVE: Swedish miner sues Brussels over carbon allocation benchmarks
Swedish miner LKAB has filed a lawsuit against the European Commission over new benchmarks used to determine the free allocation of carbon allowances for steelmaking, according to documents seen by Carbon Pulse on Friday.
Read MoreArcelorMittal output recovers in “strongest quarter in a decade”, announces low-carbon steel projects
Steelmaker ArcelorMittal saw a substantial demand recovery in Q1, achieving the “strongest” quarterly results in a decade following the COVID-19 crisis, it said in financial results on Thursday that also unveiled new deals to reduce emissions at its European facilities.
Read MoreBrussels may delay 2030 climate package until July, says senior EU official
The European Commission could present its major EU climate package in July as it is still finalising work on a number of policy proposals, a senior EU official said Thursday, which may delay by several weeks proposals including the review of the bloc’s carbon market.
Read MoreLeaders Summit on Climate: Officials highlight need for public, private action ahead of COP26
Government officials on Friday pushed for the public and private sectors to increase climate ambition ahead of the UN COP26 summit this fall, as the US and other countries announced a pair of initiatives to drive future reductions.
Read MoreEU’s carbon border measure should mirror ETS, avoid double protection, says think-tank
The EU’s carbon border adjustment mechanism (CBAM) should be linked to the bloc’s ETS and only gradually reduce the share of free allocation of allowances while avoiding double protection for EU industries, according to a report from a Brussels-based think-tank released Thursday.
Read MoreLeaders Summit on Climate: US hikes Paris climate goal as other nations strengthen emissions targets
US President Joe Biden raised the country’s emissions reduction target on Thursday at the White House-convened Leaders Summit on Climate, as other nations including Japan and Canada increased their own Paris Agreement pledges to the 2015 UN pact.
Read MoreEBRD working with Turkey on carbon market plans in bid to circumvent EU border tariffs
The European Bank for Reconstruction and Development (EBRD) is working with Turkey to develop a domestic carbon market in order to prepare the country – one of the EU’s largest trading partners – for the introduction of protective border measures by the neighbouring bloc.
Read MoreRussian lawmakers give initial nod to nation’s first climate law
Russian lawmakers gave preliminary approval on Tuesday to the country’s first climate law, which aims to enable emissions trade and require large polluters to report their GHG output.
Read MoreCanada eyes CBAM consultation as budget sets out more stringent climate target
The Canadian government will soon launch a consultation process on a carbon border adjustment mechanism (CBAM), while it also looks to CCUS tax credits and other climate funding strategies to hit a more ambitious GHG reduction goal, according to the proposed federal budget published Monday.
Read MoreEU carbon market volume soars, though auction support waning -report
EU ETS trading volume rose by more than a fifth in 2020 even as interest in auctions dwindled somewhat, according to a report published on Thursday.
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