Over 80% of EU ETS industries face largest possible squeeze on free allocation -draft
Some 43 out of 52 EU ETS-covered industries are likely to face the maximum possible tightening of their free allocation benchmarks over the next five years, according to a European Commission draft seen by Carbon Pulse that matches officials’ prior expectations.
Read MoreHigher EU 2030 emission goal “doable”, says Commission climate chief
An more ambitious EU 2030 GHG reduction target makes sense amid the coronavirus crisis and is due to be proposed by the European Commission within weeks, the EU executive’s climate chief Frans Timmermans said on Tuesday, as lawmakers struggle to agree on how much higher the goal should be.
Read MoreMEPs demand EU ETS revenues form part of EU recovery budget
The EU’s seven-year budget and COVID-19 recovery plan must include funding ETS revenues from next year, a European Parliament committee said on Tuesday, firming the assembly’s resistance on how the bloc’s bailout plans are paid for.
Read MoreEU trade commissioner resigns over Irish golf dinner scandal
The EU’s trade chief, one of the members of the EU Commission in charge of designing the bloc’s carbon border adjustment mechanism (CBAM), resigned on Wednesday over uproar that he breached COVID rules.
Read MoreIndustry competitiveness goes far beyond carbon costs, says UK-commissioned report
Industry competitiveness goes beyond carbon leakage tests applied to EU and California carbon markets, according to a UK-commissioned study published on Monday, findings that could drastically alter carbon pricing safeguards for British emitters.
Read MoreUkraine must not delay plans to establish its ETS from 2025, says business group
Ukraine must not delay work to establish its own ETS from 2025 as the country’s imports may otherwise come under pressure from a planned EU carbon border adjustment mechanism (CBAM), a Kyiv-based business association said on Tuesday.
Read MoreEU’s CO2 border measures “not a cash cow, possibly loss-making” -German bank economists
EU plans for a carbon border adjustment mechanism (CBAM) will likely make little profit for the bloc while the administrative burden for importers may be significant, according to chief economists advising Germany’s largest public bank.
Read MoreEU net zero goal brings competitiveness challenges, need for new incentives -study
The EU will need to overcome major competitiveness concerns and devise additional incentives beyond its ETS to help the bloc meet its 2050 net zero emissions goal, according to a recent study.
Read MoreRussia must clean up its industry amid EU border tax plans, says business group
Russia must take steps to clean up its big-emitting industry to avoid falling foul of the EU’s proposed carbon border adjustment mechanism (CBAM), a Russian business group has warned.
Read MoreEU industrials see recovery from COVID shutdowns, but outlook uncertain
Some of the EU’s largest cement and steel producers have seen production rebound late in H1 following initial coronavirus lockdowns in Q1, but they say prospects of a second wave make their outlooks for the rest of the year impossible to predict.
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