EU climate policy hasn’t caused carbon leakage, but risks remain -Bundesbank
EU climate policy, particularly the Emissions Trading System (ETS), has not yet triggered significant relocations of energy-intensive production abroad by German firms, according to a new report by the country’s monetary authority.
Read MoreFive takeaways for climate policy in the new European Commission
Commission President Ursula von der Leyen’s choice of portfolios for the EU’s new executive team in Brussels makes one thing abundantly clear: climate policy will be everybody’s business in the next five years.
Read MoreFEATURE: CBAM costs threaten to further decimate Ukrainian exports
Ukraine’s war-torn economy stands to bear some of the greatest strain from the full arrival of the EU’s Carbon Border Adjustment Mechanism (CBAM), imposing a new carbon fee on goods that account for one-fifth of Kyiv’s exports to the bloc – and billions in revenue.
Read MoreMorocco to fulfil carbon tax, fossil fuel levy promises in 2025
The Moroccan finance ministry has presented a bill to launch a carbon tax in 2025 and lay the groundwork for an increase in value-added tax (VAT) on fossil fuels, following up on international promises to reform its system of environmental levies.
Read MoreEU announces research project to assess impact of CBAM on its neighbours
The European Commission has announced fresh funding for a research project that explores the impact of the EU’s Emissions Trading Scheme (ETS) and Carbon Border Adjustment Mechanism (CBAM) on neighbouring countries.
Read MoreDraghi report calls for more ‘coherent’ EU climate agenda, focus on energy prices
The EU needs to bring down energy prices for industry and ramp up investments to meet its climate goals, Mario Draghi recommended in a widely awaited report on the future of the Union’s competitiveness.
Read MoreHigher emissions and EU carbon prices if no CBAM solution is found for UK power exports to EU -analysts
EU emissions and carbon prices could rise as a result of the bloc’s Carbon Border Adjustment Mechanism (CBAM), causing a reduction in power flows from the UK to the EU, according to scenarios modelled by an energy analytics firm.
Read MoreS&P sees global carbon markets picking up ‘in all scenarios’
While carbon markets are helping to stem global warming, even a “very strong” energy transformation scenario would only limit global temperature rise to 2.4C, analysts said at a webinar this week.
Read MoreWorld Bank arm invests $60 mln to decarbonise Indonesia’s second largest steel producer
The World Bank’s International Finance Corporation (IFC) has provided a loan of $60 million to the second largest steel producer in Indonesia in order to help the firm transition to low-carbon production and drive sector-wide decarbonisation.
Read MoreKorean steelmakers likely to bear $2.2 bln CBAM costs over next decade, lobby group says
A major South Korean business lobby is urging the government to actively support decarbonisation of the domestic steel industry, as the implementation of the EU’s Carbon Border Adjustment Mechanism (CBAM) could bring Korean steelmakers additional costs of 3 trillion won ($2.2 billion) over the next decade.
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