EU carbon market extension to cars, buildings seen as “risky” in key consultation
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.
Read MoreCOMMENT: EU ETS Phase 4’s starting pistol misfires
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.
Read MoreNetherlands sets rate for carbon tax on ETS-covered industry
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.
Read MoreEU Market: EUAs hit new 2-mth high on auction, energy as traders eye looming supply drought
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.
Read MoreJapan, South Korea oppose move to bring global shipping into EU carbon market
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.
Read MorePortugal adopts passenger carbon tax in 2021 state budget
A proposal to introduce a transport passenger carbon tax in Portugal’s budget for next year was adopted in the national parliament on Wednesday.
Read MoreSwitzerland adopts stopgap measure to extend climate measures through 2021 ahead of referendum
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.
Read MoreUK opens consultation on post-Brexit ETS penalties, in another sign rousing carbon trade proponents
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.
Read MoreUK govt fines trio of grounded airlines over £130 mln for EU ETS breaches
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.
Read MoreIATA launches aviation carbon credit exchange, announces first trade
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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