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UK plans for 2023 tightening of its new carbon market

Published 22:08 on March 17, 2021  /  Last updated at 23:26 on March 17, 2021  /  CBAM, EMEA, EU ETS, UK ETS  /  No Comments

The UK expects to tighten its cap-and-trade programme in 2023 to align with its mid-century net zero emissions target, the government said in a strategy document published Wednesday that could see British emitters face higher carbon costs up to three years earlier than their European rivals.

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MEPs adopt scaled-down position on EU carbon border levy

Published 21:06 on March 10, 2021  /  Last updated at 01:14 on March 11, 2021  /  Carbon Taxes, CBAM, EMEA, EU ETS  /  No Comments

EU lawmakers adopted a non-binding report on the prospective carbon border adjustment mechanism (CBAM) by a broad majority on Wednesday, but only after striking out text about removing industry’s free allocation of EU Allowances.

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MEPs narrowly vote to keep free EU carbon allowances once border levy imposed

Published 18:54 on March 9, 2021  /  Last updated at 23:07 on March 9, 2021  /  Carbon Taxes, CBAM, EMEA, EU ETS  /  No Comments

A narrow majority of the European Parliament on Tuesday voted against a gradual phaseout of freely allocated EUAs to energy-intensive industries in light of the EU’s prospective carbon border adjustment mechanism (CBAM).

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Ukraine sets 2060 climate neutrality target amid carbon market planning

Published 09:27 on March 8, 2021  /  Last updated at 14:53 on March 8, 2021  /  Carbon Taxes, CBAM, EMEA, EU ETS  /  No Comments

Ukraine aims to become climate neutral no later than 2060, according to the country’s long-term economic strategy approved by Kyiv last week that brings forward the goal by 10 years.

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Japan seen opting for climate policy mix of ETS, carbon tax, and subsidies

Published 09:37 on March 4, 2021  /  Last updated at 11:38 on March 4, 2021  /  Asia Pacific, Carbon Taxes, CBAM, Japan  /  No Comments

Japan is likely to opt for a combination of emissions trading, a carbon tax, and subsidies, according to analysts that view the mix as the most effective way of driving GHG cuts, meeting international climate expectations, and overcoming industry opposition.

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Ukraine’s Naftogaz sets carbon neutrality target, as Kyiv progresses on carbon market plans

Published 18:42 on February 19, 2021  /  Last updated at 18:42 on February 19, 2021  /  Carbon Taxes, CBAM, EMEA, EU ETS  /  No Comments

Ukrainian state energy producer Naftogaz announced a 2040 carbon neutrality target on Friday, as the country advances mandatory emissions reporting as a “first step” towards a full-fledged ETS.

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Brussels leaning towards ‘notional’ ETS for carbon border measure, says EU trade chief

Published 18:22 on February 18, 2021  /  Last updated at 18:22 on February 18, 2021  /  Carbon Taxes, CBAM, EMEA, EU ETS  /  No Comments

The EU’s prospective carbon border adjustment mechanism (CBAM) will likely take the shape of a ‘notional’ emissions market, the 27-nation bloc’s trade chief said on Thursday.

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Climate policy threat looms large for Australian trade, say researchers

Published 12:05 on February 10, 2021  /  Last updated at 12:09 on February 10, 2021  /  Asia Pacific, Australia, Carbon Taxes, CBAM  /  No Comments

Australian exporters risk huge additional costs and shrinking markets as the country’s main trading partners bring climate policy into trade negotiations, but it would be relatively pain free for the government to steer clear of such sanctions, according to two reports out this week.

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Industries urge EU to safeguard flow of free carbon units amid virus impact

Published 18:52 on February 9, 2021  /  Last updated at 18:52 on February 9, 2021  /  Carbon Taxes, CBAM, EMEA, EU ETS  /  No Comments

The European Commission must ensure the effects of the COVID-19 pandemic will not “unduly” affect free EUA allocation through 2030, according to heavy industry representatives.

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Absence of EU carbon market link “biggest risk” facing UK energy sector

Published 23:33 on February 4, 2021  /  Last updated at 02:03 on February 5, 2021  /  Carbon Taxes, CBAM, EMEA, EU ETS, UK ETS  /  No Comments

Linking the UK’s new emissions trading scheme to the EU carbon market is the single most important issue facing Britain’s energy industry, sector representatives told lawmakers, warning that it presents the largest threat in terms of raising costs for consumers and preventing utilities from managing risk.

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