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EU carbon market extension to cars, buildings seen as “risky” in key consultation

Published 18:38 on November 27, 2020  /  Last updated at 18:41 on November 27, 2020  /  EMEA, EU ETS  /  No Comments

Industry groups and NGOs alike agree that expanding the scope of the EU ETS to include vehicles and the bloc’s building stock will be a “risky” move, according to responses to the European Commission’s consultation to review the legislation underpinning the system.

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COMMENT: EU ETS Phase 4’s starting pistol misfires

Published 14:16 on November 27, 2020  /  Last updated at 14:30 on November 27, 2020  /  Conversations, EMEA, EU ETS, Views  /  No Comments

The last week has seen a couple of significant changes to the predicted supply schedule for the start of EU ETS Phase 4, and while they may not be big game-changers in the long term (overall supply in 2021 won’t be affected), they do have the potential to change the market dynamic in the first quarter at the very least.

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Netherlands sets rate for carbon tax on ETS-covered industry

Published 12:13 on November 27, 2020  /  Last updated at 12:16 on November 27, 2020  /  EMEA, EU ETS  /  No Comments

The Netherlands has set the rate at which its carbon tax on EU ETS-covered heavy industries will apply next year, a government agency said Friday, using a measure slightly below current benchmark prices.

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EU Market: EUAs hit new 2-mth high on auction, energy as traders eye looming supply drought

Published 18:41 on November 26, 2020  /  Last updated at 11:35 on November 27, 2020  /  EMEA, EU ETS  /  No Comments

EU carbon prices climbed to a new two-month high Thursday, boosted by a strong auction and as the wider energy complex lifted due to several bullish factors, while several traders said the market was still not accurately pricing in a looming supply drought.

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Japan, South Korea oppose move to bring global shipping into EU carbon market

Published 17:30 on November 26, 2020  /  Last updated at 22:39 on November 26, 2020  /  Asia Pacific, EMEA, EU ETS, International, Japan, Shipping, South Korea  /  No Comments

Japan and South Korea have voiced concerns over EU plans to extend the scope of its ETS to include emissions from all voyages using the 27-nation bloc’s ports, which the European Commission is considering as part of its carbon market reform plans.

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Portugal adopts passenger carbon tax in 2021 state budget

Published 15:19 on November 26, 2020  /  Last updated at 22:34 on November 26, 2020  /  Aviation/CORSIA, Carbon Taxes, EMEA, EU ETS  /  No Comments

A proposal to introduce a transport passenger carbon tax in Portugal’s budget for next year was adopted in the national parliament on Wednesday.

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Switzerland adopts stopgap measure to extend climate measures through 2021 ahead of referendum

Published 23:53 on November 25, 2020  /  Last updated at 01:04 on November 26, 2020  /  EMEA, EU ETS, Switzerland  /  No Comments

Switzerland’s Federal Council on Wednesday adopted a revised CO2 ordinance, which enters into force on Jan. 1, 2021 and acts as an emergency measure to extend several of the country’s climate action instruments.

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UK opens consultation on post-Brexit ETS penalties, in another sign rousing carbon trade proponents

Published 22:55 on November 25, 2020  /  Last updated at 12:24 on November 26, 2020  /  Climate Talks, EMEA, EU ETS, International  /  No Comments

The British government is consulting the oil and gas industry about penalties under a post-Brexit UK emissions trading scheme, in what observers said was another potential sign the country will opt to implement a domestic cap-and-trade system instead of a tax when it leaves the EU ETS at the end of this year.

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UK govt fines trio of grounded airlines over £130 mln for EU ETS breaches

Published 21:44 on November 25, 2020  /  Last updated at 00:15 on November 26, 2020  /  Aviation/CORSIA, Bavardage, EMEA, EU ETS, International  /  No Comments

The UK has levied more than £130 million in fines on three grounded airlines for not complying with their obligations under the EU carbon market.

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IATA launches aviation carbon credit exchange, announces first trade

Published 21:03 on November 25, 2020  /  Last updated at 23:18 on November 25, 2020  /  Africa, Americas, Asia Pacific, Aviation/CORSIA, China's Offset Market, EMEA, International, New Market Mechanisms, South & Central, US, Voluntary Market  /  No Comments

Aircraft operators’ association IATA on Wednesday launched its Aviation Carbon Exchange (ACE) to facilitate trade in both CORSIA-eligible and voluntary offsets, also announcing the inaugural transaction on the platform.

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