BRIEFING: Chile presents draft ETS timeline, floats carbon border tariff
The Chilean government released a draft climate change plan for the energy sector late on Friday for public consultation, proposing an ETS pilot and broaching a carbon border adjustment mechanism.
Read MoreDeveloped countries should contribute trillions to support climate finance, BASIC bloc says
The BASIC group of Brazil, South Africa, India, and China have repeated demands that rich countries ramp up their climate finance contributions, urging them to commit trillions of dollars to assist developing countries in reducing their greenhouse gas emissions.
Read MoreBRIEFING: EU looking into ways to simplify CBAM as early as 2025 -EU official
The European Commission is looking into ways to simplify the EU’s Carbon Border Adjustment Mechanism (CBAM) from as early as next year, the head of the Commission’s taxation unit told Carbon Pulse.
Read MoreAlgeria sets sights on CCS to lower national carbon footprint -media
Algeria’s government and private sector are looking to carbon capture and storage (CCS) to counterbalance emissions from oil and gas production, with an eye to minimising the impact of the EU’s Carbon Border Adjustment Mechanism (CBAM), according to local media sources.
Read MoreBRIEFING: EU’s CBAM violates Paris Agreement principles, raises cost of decarbonisation in Global South, panellists say
The European Union’s Carbon Border Adjustment Mechanism (CBAM) is in “clear violation” of the Paris Agreement’s principle of common but differentiated responsibilities (CBDR) and places the burden of decarbonising heavy industrial sectors on the Global South, panellists told a webinar this week.
Read MoreLower financial burdens but unequal impact for households from carbon pricing, finds IMF-backed research
Widespread exemptions in carbon pricing have resulted in lower-than-expected financial burdens on households, though higher-income earners tend to benefit more due to their consumption patterns, according to new research published by the IMF.
Read MoreCarbon pricing can play ‘pivotal’ role in Western Balkans energy transition, says World Bank
Carbon pricing mechanisms can play a pivotal role in transitioning the economies of the Western Balkans by incentivising clean energy investments, limiting their exposure to the EU’s carbon tariff, while raising revenue that can be used to support vulnerable communities, the World Bank said in a report published Wednesday.
Read MoreCape Town raises $2 mln from Kyoto Protocol waste-to-energy projects
South Africa’s legislative capital has raised R$36 million ($2 mln) by auctioning credits generated under the Kyoto-era UN Clean Development Mechanism (CDM) from projects that convert landfill-origin methane into electricity.
Read MoreSouth Africa’s president pushes for green energy as buffer against CBAMs -media
South Africa’s president has urged other developing countries to ditch fossil fuels in favour of green energy in order to avoid having to pay economy-damaging future carbon taxes, Reuters reported on Monday.
Read MoreIndian steelmakers face CBAM costs triple those of China, webinar hears
Indian steelmakers will likely have to bear costs three times higher than that of their Chinese counterparts under the EU’s carbon border adjustment mechanism (CBAM) if no effective domestic carbon price is implemented by 2030, a webinar heard Thursday.
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